According to the announcement from SHEEN TAI (01335), on April 27, 2025, the company's wholly-owned subsidiary, Shunhong Limited (the buyer), entered into a sales contract with an independent third party (the seller), under which the buyer agreed to purchase machinery for a total price of RMB 13.9875 million. This includes 102 sets of 4U36 storage servers, 50 sets of 2U16 computing servers, and accessories.

The storage capacity of these machines is approximately 70 petabytes, which can be used for cloud computing and data storage-related services. These machines can also be used for mining Filecoin. Filecoin is a cryptocurrency and decentralized storage network that provides file storage and sharing services based on blockchain technology. Filecoin primarily aims to encourage storage service providers to convert unused storage space into revenue-generating assets and offer their hard drive space for network use. The company currently intends to use these machines to mine Filecoin.

In recent years, the digital asset and cloud computing industry has developed rapidly. Considering the increasing popularity of cryptocurrency payments worldwide, the potential of Filecoin in data storage-related functions, and the potential for Filecoin to become one of the major cryptocurrencies, the board believes that the contract presents a good opportunity for the group to enter the cryptocurrency mining and data storage-related business.

The machines will be delivered to Hong Kong and operated there. The seller is primarily responsible for providing cloud computing, artificial intelligence, and big data storage solutions