SHENZHEN, China, June 6, 2022
/PRNewswire/ -- Meten Holding Group Ltd. ("Meten Holding Group" or
the "Company") (NASDAQ: METX), an omnichannel training company
headquartered in China providing
language and workplace training services and actively developing
metaverse, blockchain and cryptocurrency mining businesses, today
provided updates on the Company's digital currency
business.
To date, the Company has put 1,482 mining machines into
operation with an aggregate computing power of 150PH/s. Moreover,
as previously disclosed in February
2022, the Company purchased 600 XP mining machines from
Bitmain Technologies Ltd. with an aggregate computing power of
approximately 100PH/s. These mining machines are expected to be
delivered and put into operation in the second half of 2022. In
addition, the Company is actively seeking opportunities to acquire
mining machines that are currently in operation as the Company's
goal is to achieve an aggregate computing power of 600PH/s to
800PH/s by the end of this year.
As of May 31, 2022, the Company
mined a total of 30.63709267 bitcoins. With the improvement of the
Company's computing power and operating efficiency, the Company
expects to achieve higher mining outputs in the future. Aiming to
hold its digital currency assets in the long term, the Company will
continue to grow the scale of its digital currency business.
Mr. Jason Zhao, Chairman of Meten
Holding Group, commented, "As the Company is in the middle of the
transition to becoming a technology company focusing on metaverse,
the digital currency business is an indispensable aspect for us to
achieve the transformation. We are committed to investing in mining
machines to increase our computing power and improve our operating
efficiency. Our goal is to hold and operate these mining machines
for the long term and grow the size of our fleet of mining machines
steadily. We believe t this approach will help us strengthen our
financials and generate more value for our shareholders."
About Meten Holding Group Ltd.
Meten Holding Group Ltd., formerly known as Meten EdtechX
Education Group Ltd., is an omnichannel training company
headquartered in China providing
language and workplace training services. In addition to its
training services, Meten Holding Group actively develops metaverse,
blockchain and cryptocurrency mining businesses to align with its
future business development strategy. Meten Holding Group is
committed to developing blockchain related businesses in
North America, including
cryptocurrency mining, mining farm construction, and mining pool
and data center operation. Meten Holding Group actively explores
metaverse business, such as Metaverse vocational education courses,
with its competitive advantages and technology.
For more information, please
visit: https://investor.metenedu-edtechx.com.
Safe Harbor Statement
This announcement contains forward-looking statements that
involve risks and uncertainties. These statements are made under
the "safe harbor" provisions of the U.S. Private Securities
Litigation Reform Act of 1995. These forward-looking statements can
be identified by terminology such as "will," "expects,"
"anticipates," "future," "intends," "plans," "believes,"
"estimates" and similar statements. Statements that are not
historical facts, including statements about the Company's beliefs
and expectations, are forward-looking statements. A number of
factors could cause actual results to differ materially from those
contained in any forward-looking statement, including but not
limited to the following: the future development of and the
Company's ability to succeed in its new line of digital currency
business; the continuing impact of the COVID-19 pandemic and the
emergence of new variants; our ability to attract students without
a significant decrease in course fees; our ability to continue to
hire, train and retain qualified teachers; our ability to maintain
and enhance our brands; our ability to effectively and efficiently
manage the expansion of our school network and successfully execute
our growth strategy; the outcome of ongoing, or any future,
litigation or arbitration, including those relating to copyright
and other intellectual property rights; competition in the English
language training sector in China; changes in our revenues and
certain cost or expense items as a percentage of our revenues; the
expected growth of the Chinese English language training and
private education market; Chinese governmental policies relating to
private educational services and providers of such services; health
epidemics and other outbreaks in China; and general economic
conditions in China. The Company does not undertake any obligation
to update any forward-looking statement, except as required under
applicable law. All information provided in this press release and
in the attachments is as of the date of this press release, and the
Company undertakes no duty to update such information, except as
required under applicable law.
For investor and media inquiries, please contact:
Ascent Investor Relations LLC
Tina Xiao
+1 917-609-0333
tina.xiao@ascent-ir.com
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SOURCE Meten Holding Group Ltd.