- Mercurity Fintech ( NASDAQ: MFH ) has entered into an asset purchase agreement with Huangtong International, providing for the company’s acquisition and purchase of Web3 decentralized storage infrastructure, including cryptocurrency mining servers, cables, and other electronic devices, for an aggregate consideration of $5.98M, payable in the company’s ordinary shares.
- The investment is made with an aim to own mining machines capable of gathering, processing, and storing vast amounts of data, and to further solidify the company as a pioneer in the creation of the Web3 framework.
- Pursuant to the agreement, MFH would make the payment in the form of its ordinary shares, at a stipulated price of $0.0022/share, in the aggregate amount of 2,718,181,818 shares.
- The ownership of the crypto-mining equipment will be passed to MFH after the company successfully issues the purchase price shares to Huangtong International.
- Huangtong International will remain responsible for the installation of all mining equipment at sites designated by the company and will also undertake routine maintenance of the devices for one year.
- Press release
For further details see:
Mercurity Fintech announces a $5.98M asset purchase agreement for the creation of Web3 infrastructure