Kaixin Holdings announced on November 14, 2024, that it is exploring new growth avenues and is in advanced stages of evaluating strategic alternatives. The company is actively considering the acquisition of a controlling equity interest in a leading cryptocurrency mining company.
The target mining company is based in the Middle East and operates with cost-efficient BTC mining machines. It optimizes self-mining processes and offers end-to-end cloud hosting services for the crypto mining industry.
A critical asset of the potential acquisition is its long-term, stable energy supply, which bolsters operational resilience and cost efficiency. This move indicates Kaixin's commitment to sustainable and profitable growth through diversification into the crypto sector.
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