Lead Benefit, a Hong Kong subsidiary of Mingcheng Group, once again spent US$27 million to purchase 333 Bitcoins

PANews March 11th news, according to Globenewswire, Mingcheng Group Holdings Co., Ltd. (NASDAQ: MSW), a Hong Kong company mainly engaged in mud and water engineering, announced that its wholly-owned Hong Kong subsidiary Lead Benefit purchased 333 bitcoins at an average price of US$81,555 per bitcoin on February 28, 2025, with a total investment of approximately US$27 million. Mingcheng plans to use its idle funds to buy Bitcoin as a short-term investment to capture the potential appreciation of Bitcoin and increase its assets. The company believes that the Bitcoin market is highly liquid and that Bitcoin can be easily disposed of to fund the company's wet-work engineering business when needed.

Previous news , Lead Benefit purchased 500 Bitcoins at an average price of US$94,375 per Bitcoin on January 9, 2025, with a total investment of approximately US$47 million.