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Hong Kong Construction Company Reaches $483 Million Deal to Purchase 4,250 Bitcoins
Aug 21, 2025
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Nasdaq-listed construction service provider Mingcheng Group Holdings Limited announced on Wednesday that it has signed a Bitcoin purchase agreement to buy 4,250 Bitcoins.
The Hong Kong-based company has reached a deal with Winning Mission Group, a company registered in the British Virgin Islands, for a transaction worth $482.9 million, with the latter selling 4,250 Bitcoins at an average price of $113,638 per Bitcoin.
The transaction is expected to be completed by the end of the year and will not be paid in cash. According to the announcement, Mingcheng will issue convertible promissory notes and warrants to the seller. Following this news, the company's stock MSW rose 29% on Wednesday. It closed up 11.5% on the day, at $1.65.
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