SINGAPORE - X3 Holdings Co., Ltd. (NASDAQ:XTKG), a digital solutions and technology services provider, has entered into a term sheet for the acquisition of 30,000 next-generation Avalon bitcoin miners to be purchased by 2026. This move is part of the company's strategy to expand its cryptomining operations using energy-efficient equipment.
The purchase agreements with a leading bitcoin mining equipment supplier involve a blend of cash and vendor credits. The new Avalon miners are recognized for their high energy efficiency and performance, featuring industry-leading hashing power. These miners will be deployed across X3 Holdings' hosting sites, which are powered by renewable energy, aligning with the company's commitment to sustainable operations.
Stewart Lor, CEO of X3 Holdings, remarked on the importance of securing a steady supply of advanced mining equipment to bolster the company's cryptomining fleet. He emphasized the anticipated positive impact of this expansion on the company's overall growth in the future.
X3 Holdings operates in various business sectors, including digital technologies, cryptomining, renewable energy, and agriculture technologies. Headquartered in Singapore, the company maintains a global presence with subsidiaries and operations worldwide.
The press release includes forward-looking statements under the Private Securities Litigation Reform Act of 1995, outlining the company's plans and expectations. These statements are subject to various risks and uncertainties that could cause actual results to differ materially from those projected.
Investors are advised to consider these risks and not to place undue reliance on forward-looking statements. Additional information regarding these risks is available in the company's SEC filings.
This expansion of X3 Holdings' miner fleet is based on a press release statement from the company.
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