Addentax signs memorandum of understanding for $200 million private placement to support cryptocurrency and AI strategies

ChainCatcher News, Nasdaq-listed company Addentax Group announced that it has signed memorandums of understanding with two investment institutions to issue common stock at a price of $1.5 per share, raising a total of $200 million to support business growth in the fields of artificial intelligence (AI) and cryptocurrency financial services.

The company proposed a long-term investment and holding strategy for crypto assets last year, planning to acquire up to 12,000 bitcoin, as well as cryptocurrencies such as TRUMP.