Understanding the Market | DL HOLDINGS GP rises over 7%, plans to acquire 2,995 BM mining machines from Bitmain to strengthen the company's Bitcoin mining business

DL HOLDINGS GP is currently up over 7%. As of the time of writing, it has risen 6.5% to HKD 3.44, with a trading volume of HKD 115 million. In terms of news, DL HOLDINGS GP announced the completion of the acquisition of 1,900 BM mining machines (rack-mounted HASH supercomputers) and 1,095 BM mining machines from Bitmain's subsidiaries BM1 and BM2, respectively, at prices of USD 8.35 million and USD 10.88 million. The acquisition is intended to be settled using the net proceeds from the placement and potential financing provided by Antalpha Digital. The board believes that signing the formal agreement with BM will bring long-term financial returns and value to shareholders. The BM acquisition will further strengthen the group's leadership position in the Bitcoin mining business among Hong Kong listed companies, create diversified revenue sources, and enable the group to seize rapidly expanding market opportunities in the digital asset and blockchain sectors. Considering the aforementioned benefits, the board believes that the terms of the formal agreement with BM and the proposed transactions under it are normal commercial terms, fair and reasonable, and in the overall interests of the company and its shareholders