Kaixin holdings explores strategic alternatives with potential acquisition in crypto mining sector

Hangzhou, china, nov. 14, 2024 (globe newswire) -- kaixin holdings (“kaixin” or the “company”) (nasdaq: kxin) today announced a major strategic step forward as it explores new growth avenues. in the advanced stages of evaluating strategic alternatives, kaixin is actively considering the acquisition of a controlling equity interest in a leading cryptocurrency mining company based in the middle east. this mining company operates with cost-efficient btc mining machines, optimizing self-mining processes while also offering sophisticated, end-to-end cloud hosting services tailored to meet the growing demand within the crypto mining industry. the facility's long-term, stable energy supply is a critical asset that bolsters operational resilience and cost efficiency, underscoring kaixin's commitment to sustainable and profitable growth.
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