SHENZHEN, China, May 11, 2022 / PRNewswire / – Meten Holding Group Ltd. (“Meten Holding Group” or “Company”) (NASDAQ: METX), an omnichannel training company based in China providing language and workplace training services and actively developing metaverse, blockchain and cryptocurrency mining companies, announced that it had signed a memorandum of understanding (the “MOU”) on April 18, 2022 with Tokenomics Digital Tech Corporation (“TDTC”), a company engaged in the exploitation, exploitation and management of digital currency, to further develop digital currency-related business, including mining machinery custody services, third party currency services digital and mergers. and acquisitions (“M&A”) of digital currency companies.
In accordance with the MOU, TDTC undertakes to provide custody services on mining owned or operated by TDTC for mining machinery owned by the Company, which includes investment planning, procurement of mining machinery, logistics, customs clearance, supply chain support and operation of mining machinery. , computer power monitoring, maintenance and related financing services.
Both parties also agreed to cooperate in providing services to third-party investors interested in investing in digital currency through the establishment of new funds or investment advice. The Company expects to expand its investor base by establishing relationships with potential investors, such as dollar-based investment funds, high-income individuals, family offices, and companies interested in digital currency. The minimum investment of each investor is $ 1 million.
As part of the MOU, both parties agree to cooperate in the Company’s acquisition of high quality digital currency companies, leveraging the advantages of TDTC in business planning, valuation and management, and the Company’s advantages in the capital markets. A potential target company in digital currency mining must own a minimum of 1,000 mining machines or have a minimum valuation of $ 5 million in the US and other compliant regions. TDTC is committed to providing information on potential objectives, advising on due diligence and valuation, and assisting the Company in the negotiation process. To date, the Company has not identified any acquisition targets.
Sir. Alan PengMeten Holding Group CEO commented: “We are pleased to cooperate with TDTC as we continue to delve into the digital currency business. TDTC has extensive experience in the digital currency industry and we believe that its experience will complement our business initiatives and help us to “Through cooperation on various issues, we are confident that we can continue to expand our business and are delighted with the potential to acquire more valuable assets. Our goal is to become one of the leading companies in the digital currency industry.”
About Tokenomics Digital Tech Corporation
Tokenomics Digital Tech Corporation has a complete digital currency mining business system, business in the USA. Kazakhstane Europe, and rich operating experience in the industry. Tokenomics Digital Tech Corporation aims to provide long-term digital currency mining management services to international institutional investors.
About Meten Holding Group Ltd.
Meten Holding Group Ltd., formerly known as Meten EdtechX Education Group Ltd., is an omnichannel training company based in China provision of language and vocational training services. In addition to its training services, Meten Holding Group is actively developing metaverse, blockchain and cryptocurrency mining companies to align with its future business development strategy. Meten Holding Group is involved in blockchain related business North America e Southeast Asia (excluding China), including cryptocurrency mining, construction of mining farms and mining and the operation of the data center. Meten Holding Group is actively exploring metaverse businesses, such as Metaverse vocational education courses, with their competitive advantages and technology.
For more information, visit: https://investor.metenedu-edtechx.com/.
Declaration of safe harbor
This ad contains forward-looking statements that involve risks and uncertainties. These statements are made under the “safe harbor” provisions of the US Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology as “going”, “waiting”, “anticipating”, “future”. “,” plan “,” believe “,” estimate “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 the contents of any forward-looking statements, including, but not limited to, the future development and ability of the Company to succeed in its new line of business in the cryptocurrency and chain industry. of blocks. ; 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 faculty; our ability to maintain and improve 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 future litigation or arbitration, including those related to copyright and other intellectual property rights; competition in the English language training sector in China; changes in our income and certain costs or expenses as a percentage of our income; the expected growth of the Chinese English training and private education market; Chinese government policies related to private education services and providers of such services; health epidemics and other outbreaks in China; and general economic conditions in China. The Company assumes no obligation to update any forward-looking statements, except as required by applicable law. All information provided in this press release and the appendices is the date of this press release, and the Company does not undertake to update such information except as required by applicable law.
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SOURCE Meten Holding Group Ltd.