LINEKONG 计划以 126 万美元认购 EcoPowX 30.3% 的股权。
LINEKONG plans to subscribe for a 30.3% equity stake in EcoPowX for $1.26 million. EcoPowX will provide computing power solutions for AI calculations and the Bitcoin network, and will collaborate with a West African oilfield supplier to provide environmentally friendly flaring gas treatment. The board of directors of LINEKONG believes that the Web3 industry and blockchain technology have potential, and has decided to invest in EcoPowX to expand its business in this field.
Zhitong App News: LINEKONG (08267) announced that on January 7, 2024, the company entered into a share subscription agreement with EcoPowX. The company conditionally agreed to subscribe for shares, and EcoPowX conditionally agreed to issue and distribute the subscription shares, representing 30.3% of EcoPowX's equity, at a price of USD 1.26 million.
It is reported that EcoPowX is a newly registered company that will focus on providing power solutions for AI computing and Bitcoin networks through the establishment of more environmentally friendly torch gas combustion power generation facilities and sites. EcoPowX plans to cooperate with a large-scale oil field and natural gas processing equipment supplier in West Africa to promote the environmentally friendly treatment of torch gas in oil areas. As part of its cryptocurrency mining operations and GPU computing supply, EcoPowX's overall activities revolve around the energy sources for AI computing and Bitcoin mining, providing sustainable green solutions and technical support. EcoPowX's financial performance will not be consolidated into the company's accounts.
The board of directors believes that the Web3 industry and blockchain technology have the potential to impact the existing financial and technology industries. Since the second quarter of 2023, the group has been continuously purchasing Bitcoin on the public market as part of its business development and asset allocation strategy. In order to further accelerate the group's expansion in the Web3 industry and diversify the risks associated with acquiring Bitcoin, the board of directors believes that EcoPowX's business is a viable option. Therefore, it was decided to change the use of the net proceeds from the initial public offering to repay the consideration funds.