LGHL - Lion Group enters transfer maintenance agreement with Shanghai Minebaba

Lion Group Holding ([[LGHL]] -2.0%) has announced that its subsidiary Lion Wealth, entered into an antminer transfer and maintenance agreement with Shanghai Minebaba Network Technology, to acquire 5K brand new units of Bitmain Antminers S9 Hydro in a single transaction.The Equipment will be deployed in Sichuan, China and used for Bitcoin mining. Under the terms, ownership of the Equipment will be transferred from the Seller to the Buyer for a total price of ~$2.6M.The Equipment is expected to contribute revenue $4.6M in 2021, based on 90PH/S of hashing power generated, estimated power consumption and current Bitcoin price. The deal is expected to close by May 2021.

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Lion Group enters transfer, maintenance agreement with Shanghai Minebaba