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International Business Settlement Holdings Limited ( (HK:0147) ) just unveiled an announcement.
International Business Settlement Holdings has provided a supplemental update on its cryptocurrency business, detailing a strategy that treats cryptocurrency computing power as a core, income-generating asset to gain long-term exposure to digital assets like Bitcoin and diversify away from cyclical risks in its traditional operations. The group is currently mining primarily for its own account via self-owned supercomputing servers and third-party cloud services, and may use mined coins to fund operations, while expanding in a controlled, phased manner that adjusts to cryptocurrency prices, mining difficulty, regulatory shifts and energy costs, backed initially by about HK$450 million in subscription proceeds with the option of further fundraising as opportunities emerge.
The most recent analyst rating on (HK:0147) stock is a Sell with a HK$0.18 price target. To see the full list of analyst forecasts on International Business Settlement Holdings Limited stock, see the HK:0147 Stock Forecast page.
More about International Business Settlement Holdings Limited
International Business Settlement Holdings Limited, incorporated in Bermuda and listed in Hong Kong, is repositioning around the emerging fintech sector by developing upstream, downstream and infrastructure projects, with a particular focus on cryptocurrency-related activities such as mining, hash power leasing and hardware resale to diversify its asset portfolio beyond traditional business segments.
Average Trading Volume: 13,565,076
Technical Sentiment Signal: Hold
Current Market Cap: HK$4.04B
For detailed information about 0147 stock, go to TipRanks’ Stock Analysis page.