Key Takeaways
- BitVentures has officially launched its Digital Assets segment and entered the crypto mining industry.
- In building its new segment, the company has acquired multiple fleets of Bitmain mining machines.
BitVentures, a Nasdaq-listed tech company, today announced the official launch of its Digital Assets segment, a unit focused on crypto mining and digital asset operations, including staking, node services, and ecosystem partnerships.
As part of the expansion, the company has entered into purchase and hosting agreements to acquire multiple fleets of Bitmain mining machines with approximately 0.5 MW of power capacity.
Deployment will begin in phases from January 2026, with full operations anticipated in the first quarter, the company stated.
BitVentures said it plans to pursue a diversified mining strategy targeting Bitcoin and select altcoins, using energy-efficient, high-specification machines to maintain resilience under volatile market conditions.
Lawrence Wai Lok, CEO of BitVentures, described the launch as a proof-of-concept deployment and said the company intends to scale operations in phases, laying the foundation for future expansion into other services.
Shares of BitVentures (BVC) climbed 8% intraday on Friday, per Yahoo Finance.
BitVentures, formerly known as Hywin Holdings and later Santech Holdings Limited, previously operated a China-based wealth manager, Hywin Wealth, through a variable interest entity structure. Hywin Wealth was once China’s leading independent wealth manager and a major distributor of real-estate-backed investment products.
In June 2024, the company terminated its VIE arrangement with Hywin Wealth, fully exiting its wealth and asset management businesses.
Source: https://cryptobriefing.com/nasdaq-listed-bitventures-launches/