Yuxing Technology intends to spend 84.18 million Hong Kong dollars to acquire USDC for the purchase of Bitmain miners

Yuxing Technology intends to spend 84.18 million Hong Kong dollars to acquire USDC for the purchase of Bitmain miners

2021/9/15

According to reports, the listed company Yuxing Technology issued an announcement that on September 14, 2021, the buyer (the company’s direct wholly-owned subsidiary) conducted a series of transactions on the open market to acquire a total of approximately 10,757,635.78 units of USDC (a kind of The linked digital currency, known as a stable currency, has an average price of 7.825 Hong Kong dollars per unit and a total consideration of 84,178,500 Hong Kong dollars (excluding transaction costs).The company's intention to acquire USDC is for the purchase of machines for payment purposes. On the same day, the buyer (the company's direct wholly-owned subsidiary) and the seller (i.e. Inno Century Limited) entered into a sale and purchase agreement. The buyer agreed to purchase machines (i.e. 10,500 T17E Bitmain miners) from the seller for HK$84,178,500, and the buyer transferred the equivalent USDC Make payment. HK$84,178,500 will be paid 60% by the buyer on the date of the sale and purchase agreement; 40% will be paid within five business days from the date of the sale and purchase agreement.


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