- Addentax Group Corp. (ATXG, Financial) plans to acquire up to 12,000 Bitcoins, valued at approximately $1.3 billion.
- The acquisition will be funded through the issuance of newly issued shares of ATXG common stock.
- Final terms are subject to negotiation, due diligence, and regulatory approvals.
Addentax Group Corp. (ATXG) has entered into a non-binding term sheet with a substantial Bitcoin holder to acquire up to 12,000 Bitcoins. This potential acquisition significantly increases from the previously discussed target of 8,000 BTC announced on May 15, 2025, and is valued at approximately $1.3 billion based on current market prices.
The proposed transaction will be settled through the issuance of newly issued shares of ATXG common stock, rather than cash. This strategic move aligns with Addentax's long-term investment strategy to leverage Bitcoin's bullish momentum, global recognition, and liquidity.
The final details of the transaction, including the exact number of Bitcoins, share issuance terms, and pricing, remain subject to negotiation, due diligence, and customary approvals. Addentax aims to transform itself into a more Bitcoin-centric entity, akin to MicroStrategy's investment strategy.
The announcement and execution of this acquisition are still preliminary. The transaction's conclusion depends on market conditions and regulatory approvals, presenting significant execution risks due to the involved size and volatility in the cryptocurrency market.
