Despite the Chinese government’s extended efforts to discourage the common public from trading in Cryptos, Bitcoin continues to remain a popular choice amidst the commoners in China. A recent instance shows the evidence as a Chinese alcohol company buys 51% of Crypto miner for a hefty sum of $60 million.
Diginex Limited is a multinational crypto-asset investment company that has its headquarters in Hong Kong. Recently, the company has declared that it has sold 51% stake of its crypto mining for $60 million US Dollars. The buyer of this crypto mining stakes is Madison Group Holdings, a company that deals with distributing alcoholic beverages.
Madison Holdings expecting prosperity from digital currency industry
Madison Wine which has been renamed to Madison Holdings Group mainly deals with wholesale and retail business of alcoholic beverages. Fine quality wines, and alcoholic drinks such as whiskies, cognac, premium drinks such as Chinese baijiu are offered by the company. Madison is a member of Hong Kong Stock Exchange since the year, 2015.
$60 million dollar investment to enable fast tracking of GPU Mining operations
Diginex is a private company that has its offices established in Hong Kong, Germany, Japan and Switzerland. The company conducts its mining operations in a number of Asian countries, Sweden and Switzerland. These huge investment of $60 million dollar in Diginex will enable fast tracking of the GPU Mining operations in western Europe. Partnership with hardware supplying companies and power-supply providing establishments will generate a secure and safe GPU oriented crypto mining center.
Miles Pelham, the Chief Executive Officer of Diginex has publicly declared, “this cash injection allows us to expedite our steps towards becoming the global provider of Distributed Ledger Technologies. We will continue to build out our mining operations in Sweden and Switzerland, but also focus on helping corporates and governments across the world to implement transformative DLT applications”.