03.07.2025 17:53

Addentax Group Corp., a Nasdaq-listed company, has revealed ambitious plans to significantly expand its holdings in Bitcoin. The Shenzhen-based textile and logistics firm announced a non-binding term sheet for the potential acquisition of up to 12,000 Bitcoin from an undisclosed private investor. This deal, valued at approximately $1.3 billion based on current market prices, represents a staggering leap for the company.

Payment for the Bitcoin will be made using newly issued Addentax shares, a move outlined in a July 2nd press release. This proposed transaction is particularly noteworthy given Addentax's relatively small market capitalization of roughly $6.8 million. The potential Bitcoin acquisition would eclipse Addentax's current market value by a factor of approximately 200.

While the deal is contingent upon successful due diligence, final documentation, and necessary regulatory approvals, it reflects Addentax's strategic shift towards diversification beyond its traditional garment and logistics operations. The company had previously hinted at a smaller, 8,000 Bitcoin acquisition in May, suggesting a growing commitment to the cryptocurrency space.

This significant investment comes amidst a broader trend of corporate treasury departments embracing Bitcoin, fueled by what industry leaders describe as substantial institutional interest. Marathon Digital Holdings CEO Fred Thiel recently highlighted this surging demand, attributing it to the ongoing accumulation of Bitcoin and the resultant pressure on prices pushing toward record highs. This information comes from internet sources, aggregated and curated by The Defiant.