SINGAPORE, Feb. 28, 2024 /PRNewswire/ — X3 Holdings Co., Ltd. (Nasdaq: XTKG) (“X3 Holdings” or the “Company”), a global provider of digital solutions and technology services spanning diverse industries, is pleased to announce the signing of a term sheet for multi-year purchase agreements with a leading supplier of bitcoin mining equipment.
X3 Holdings will purchase the next generation of Avalon bitcoin miners in tranches, using a combination of cash and vendor credits. A total of 30,000 bitcoin miners are projected to be purchased by 2026. These miners will be strategically deployed at the Company’s globally diversified hosting sites powered by renewable energy sources.
The next generation of Avalon bitcoin miners is known for their extraordinary energy efficiency and superior performance metrics, with industry-leading hashing power and energy efficiency. Introduced since 2013, Avalon miners have continually expanded their energy efficiency and hashing capability, with growing adoption by mining entities worldwide.
Stewart Lor, CEO of X3 Holdings, expressed his confidence: “This agreement with our strategic partner ensures that we have a stable supply of top-tiered mining equipment, which is extremely crucial in expanding our miner fleet. I am confident that our cryptomining business will substantially drive our overall future growth.”
About X3 Holdings
X3 Holdings Co., Ltd. (Nasdaq: XTKG) is a global provider of digital solutions and technology services spanning diverse industries. The Company is operating across diversified business segments in digital technologies, cryptomining operations, renewable energy and agriculture technologies. X3 Holdings is headquartered in Singapore with subsidiaries and operations globally. For additional information, please visit www.x3holdings.com.
Safe Harbor Statement
This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as “may,” “will,” “intend,” “should,” “believe,” “expect,” “anticipate,” “project,” “estimate” or similar expressions that do not relate solely to historical matters, it is making forward-looking statements; specifically, the Company’s statements regarding listing on the NASDAQ Capital Market and the IPO are forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company’s expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the following: the Company’s goals and strategies; the Company’s future business development; product and service demand and acceptance; changes in technology; economic conditions; reputation and brand; the impact of competition and pricing; government regulations; fluctuations in general economic and business conditions in the markets that the Company operates and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the SEC. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company’s filings with the SEC, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.
For more information, please contact:
Corporate Investor Relations
X3 Holdings Co., Ltd.
Email: ir@x3holdings.com
Website: www.x3holdings.com
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SOURCE X3 Holdings Co., Ltd.