SHENZHEN, China, March 16, 2022 /PRNewswire/ -- Meten Holding
Group Ltd. ("Meten Holding Group" or the "Company") (NASDAQ: METX),
one of the leading omnichannel English language training ("ELT")
service providers in China,
announced that it had entered into a strategic cooperation
agreement (the "Agreement") on March 8,
2022 with Global Blockchain, Inc. ("Global Blockchain"), a
digital currency company engaging in digital currency mining,
investment, construction, and operation of digital currency mining
farms and other business, for the purpose of sharing resources and
exploring market opportunities in the blockchain and digital
currency industries.
Pursuant to the Agreement, both parties expect to establish a
long-term information communication mechanism to conduct industry
research and share research results. Additionally, Global
Blockchain has agreed to supply digital currency mining rig storage
units that have been put in operation by the Company. Meten Holding
Group has agreed to take part in the construction, operations, and
other businesses of digital currency mining farms together with
Global Blockchain. Both parties also intend to invest in the
construction of a digital currency mining farm in the U.S. with
expected capacity of 5 to 10 megawatts ("MW").
Mr. Alan Peng, Chief Executive
Officer of Meten Holding Group, commented, "We are pleased to
cooperate with Global Blockchain as we keep expanding our
blockchain and digital currency business in the U.S. This
cooperation will help us stay informed in the fast-evolving
blockchain and digital currency industries and stay close to the
industry development trend. Through leveraging this relationship,
we are gaining confidence to grow our blockchain and digital
currency business and create value for our shareholders."
About Global Blockchain, Inc.
Global Blockchain, Inc. mainly engages in digital currency
mining, investment, construction, and operation of digital currency
mining farm and other business.
About Meten Holding Group Ltd.
Meten Holding Group Ltd., formerly known as Meten EdtechX
Education Group Ltd., is one of the leading omnichannel ELT service
providers in China, delivering English language and skills
training for Chinese students and professionals. In addition to
strengthening its position in the ELT service industry
in China, Meten actively explores the blockchain and
cryptocurrency mining business outside China, with a long-term
goal of creating value across the cryptocurrency industry. Meten
expects to engage in businesses related to blockchain and metaverse
in North America and other countries and areas around the
world (not including China), including cryptocurrency mining,
mining farm construction, and mining pool and data center
operation.
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 business in
cryptocurrency and blockchain industry; 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.