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3 E Network Technology Group Limited Announces Strategic Equity Investment in HashBeaver to Accelerate Blockchain Innovation
Partnership Combines the Company’s B2B IT Expertise with HashBeaver’s Cutting-Edge Cloud Mining Solutions for Cross-Industry Growth Guangzhou, China, March
About this update from 3 E Network Technology Group Ltd
[{"type":"text","content":"Partnership Combines the Company’s B2B IT Expertise with HashBeaver’s Cutting-Edge Cloud Mining Solutions for Cross-Industry Growth Guangzhou, China, March 20, 2025 (GLOBE NEWSWIRE) -- 3 E Network Technology Group Limited (“3e Network” or the “Company”) (Nasdaq: MASK), a business-to-business (“B2B”) information technology (“IT”) business solutions provider, today announced that it has entered into a Memorandum of Understanding (“MoU”) with HASH BEAVER PTE. LTD (“HashBeaver”), a Singapore-based company with a dedicated cloud mining platform in the digital currency financial sector. The MoU outlines the Company’s strategic equity investment in HashBeaver, marking a transformative step to integrate blockchain-driven solutions into its IT ecosystem. Pursuant to the MoU, 3e Network intends to acquire a 4.9% equity stake in HashBeaver, valuing the cloud mining innovator at a pre-money valuation of $30 million. The MoU is a non-binding document and the final investment terms are subject to terms in a definitive agreement. The investment outlined in the MoU focused on merging 3e Network’s B2B software expertise with HashBeaver’s advanced blockchain infrastructure. As a rising player in the digital asset space, HashBeaver has rapidly gained industry recognition for its expertise in cloud mining and cryptocurrency financial services. Leveraging the collective expertise and capital of industry giants, HashBeaver has secured strategic investment from MinerVa Semiconductor, a leading manufacturer of cryptocurrency mining hardware, providing a solid foundation for ongoing innovation and growth. Additionally, HashBeaver has reported the achievement of key milestones, including the management of 9.6 EH/s of computing power, the establishment of 5 global mining facilities, and the completion of 290 MW of capacity, as of July 2, 2024, according to its website. By the end of 2024, the total capacity is expected to reach 425 MW, according to the same source. Dr. Tingjun Yang, Co-Chief Executive Officer and Director of 3e Network, commented: “We believe this MoU will strengthen our strategic collaboration and pave the way for broader cooperation in the future. By leveraging HashBeaver’s expertise and strong position in cloud mining services, we are confident in expanding our IT business solutions and creating significant value for both companies’ ...