SHENZHEN, China, March 16, 2022 /PRNewswire/ — Meten Holding Group Ltd. ("Meten Holding Group" or the "Company") (NASDAQ: METX), one of the leading omnichannel English language training ("ELT") service providers in China, announced that it had entered into a strategic cooperation agreement (the "Agreement") on March 8, 2022 with Global Blockchain, Inc. ("Global Blockchain"), a digital currency company engaging in digital currency mining, investment, construction, and operation of digital currency mining farms and other business, for the purpose of sharing resources and exploring market opportunities in the blockchain and digital currency industries.
Pursuant to the Agreement, both parties expect to establish a long-term information communication mechanism to conduct industry research and share research results. Additionally, Global Blockchain has agreed to supply digital currency mining rig storage units that have been put in operation by the Company. Meten Holding Group has agreed to take part in the construction, operations, and other businesses of digital currency mining farms together with Global Blockchain. Both parties also intend to invest in the construction of a digital currency mining farm in the U.S. with expected capacity of 5 to 10 megawatts ("MW").
Mr. Alan Peng, Chief Executive Officer of Meten Holding Group, commented, "We are pleased to cooperate with Global Blockchain as we keep expanding our blockchain and digital currency business in the U.S. This cooperation will help us stay informed in the fast-evolving blockchain and digital currency industries and stay close to the industry development trend. Through leveraging this relationship, we are gaining confidence to grow our blockchain and digital currency business and create value for our shareholders."
About Global Blockchain, Inc.
Global Blockchain, Inc. mainly engages in digital currency mining, investment, construction, and operation of digital currency mining farm and other business.
About Meten Holding Group Ltd.
Meten Holding Group Ltd., formerly known as Meten EdtechX Education Group Ltd., is one of the leading omnichannel ELT service providers in China, delivering English language and skills training for Chinese students and professionals. In addition to strengthening its position in the ELT service industry in China, Meten actively explores the blockchain and cryptocurrency mining business outside China, with a long-term goal of creating value across the cryptocurrency industry. Meten expects to engage in businesses related to blockchain and metaverse in North America and other countries and areas around the world (not including China), including cryptocurrency mining, mining farm construction, and mining pool and data center operation.
For more information, please visit: https://investor.metenedu-edtechx.com/.
Safe Harbor Statement
This announcement contains forward-looking statements that involve risks and uncertainties. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Statements that are not historical facts, including statements about the Company's beliefs and expectations, are forward-looking statements. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the future development of and the Company's ability to succeed in its new line of business in cryptocurrency and blockchain industry; the continuing impact of the COVID-19 pandemic and the emergence of new variants; our ability to attract students without a significant decrease in course fees; our ability to continue to hire, train and retain qualified teachers; our ability to maintain and enhance our brands; our ability to effectively and efficiently manage the expansion of our school network and successfully execute our growth strategy; the outcome of ongoing, or any future, litigation or arbitration, including those relating to copyright and other intellectual property rights; competition in the English language training sector in China; changes in our revenues and certain cost or expense items as a percentage of our revenues; the expected growth of the Chinese English language training and private education market; Chinese governmental policies relating to private educational services and providers of such services; health epidemics and other outbreaks in China; and general economic conditions in China. The Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law. All information provided in this press release and in the attachments is as of the date of this press release, and the Company undertakes no duty to update such information, except as required under applicable law.
For investor and media inquiries, please contact:
Ascent Investor Relations LLC
Tina Xiao
+1 917-609-0333
tina.xiao@ascent-ir.com
View original content:https://www.prnewswire.com/news-releases/meten-holding-group-ltd-announces-strategic-alliance-to-explore-opportunities-in-blockchain-and-digital-currency-industries-301503910.html
SOURCE Meten Holding Group Ltd.
Related Quotes
Vulcan Value Partners, an investment management firm, published its “Vulcan Value Partners Large Cap Fund” fourth quarter 2021 investor letter – a copy of which can be downloaded here. Vulcan’s Large Cap Composite Fund delivered a 1.2% net return for the fourth quarter of 2021, compared to its benchmarks, the Russell 1000 Value Index and […]
Despite strong quarterly results, some investors got hung up on guidance for first-quarter deliveries.
The situation between U.S. and Chinese regulators over Chinese stocks listed on U.S. exchanges continues to evolve.
Yahoo Finance Live anchors break down quarterly earnings for Chinese electric vehicle company Nio.
In this article, we discuss 12 biggest agriculture companies in the world. If you want to skip our detailed analysis of the agriculture industry, click 5 Biggest Agriculture Companies in the World. Agriculture Industry Dynamics Agriculture has evolved from basic farming practices into a highly diverse sector, with enhanced soil preparation techniques, crop nutrients for […]
To be perfectly honest, few traders are revved up about AT&T stock, and for good reason. "The only redeeming quality of owning T has been the heady dividend yield," wrote Real Money Columnist Brad Ginesin recently. AT&T is set to split off Warner Bros to Discovery shareholders, which is likely to occur in mid-April.
The electric-vehicle maker said at its analyst day on Wednesday it had started manufacturing Tre battery electric vehicle (BEV) at its Coolidge, Arizona facility on March 21 and would deliver 300 to 500 semi-trucks this year. Several electric vehicle makers including legacy automakers such as Ford Motor Co and General Motors that have entered the segment aim to deliver their first EVs this year as demand heats up, but higher raw material prices and supply chain woes have clouded their timelines. The Nikola story has increased credibility now as trucks start to roll off the line, said Jeffrey Kauffman, analyst at Vertical Research Partners, adding the company could surprise with new customer orders.
Berkshire Hathaway CEO Warren Buffett has said that his company's "favorite holding period is forever." The famously successful moneyman's ability to identify businesses worth holding for the long haul has helped his company benefit from winners that kept on winning, translating into portfolio performance that has absolutely crushed the broader market. With Buffett's incredible success in mind, taking some inspiration from the Oracle of Omaha could help take your portfolio to the next level.
Yahoo Finance's Ines Ferré breaks down how stocks and commodities are trading.
With semiconductor stocks bouncing back, one analyst has assembled a portfolio of high-conviction names investors should consider.
Ian Shepherdson of Pantheon Macroeconomics predicts a 25% decline in U.S. home sales. On March 24, the yield on five-year U.S. Treasury notes was 2.40% and the yield on seven-year notes was 2.43%. Both were higher than the 2.38% yield on 10-year Treasury notes.
Bitcoin, the leading cryptocurrency, was up almost 5% over the past 24 hours to near $45,000, around the highest level seen since the beginning of the year. “Bitcoin is on the verge of a major breakout as the price is on course to test the $45k, which has been a strong resistance since mid-January,” said Yuya Hasegawa, an analyst at Japanese crypto exchange Bitbank. Similar price action was seen among some smaller cryptocurrencies, or “altcoins,” with and both up around 5%.
GameStop stock has been on an absolute tear over the past seven days—and now we know why. Chairman Ryan Cohen snapped up 100,000 more shares in the meme stock, according to a regulatory filing late Tuesday, taking his holding up to 11.9%. The purchase was made through Cohen’s RC Ventures LLC Vehicle and takes his holding up to 9,101,000 shares.
GameStop (NYSE: GME) shareholders trounced a rising market this week. The stock jumped 57% through Thursday trading compared to a 1.3% rally in the S&P 500, according to data provided by S&P Global Market Intelligence. GameStop is down roughly 4% in 2022 compared to a 5% drop in the S&P 500.
The stock of Alcoa (NYSE: AA) has become unstoppable. The stock has already received several upgrades this week, including one this morning from Goldman Sachs analyst Emily Chieng, who raised Alcoa's price target to $115 a share from $88.
NIO's (NIO) stock is trading slightly lower ahead of the Chinese electric-vehicle company's quarterly results due after the closing bell on Thursday.
(Bloomberg) — Russian miner Petropavlovsk Plc extended a slump that has wiped out more than 90% of its value this year after warning that U.K. sanctions against its main lender, Gazprombank, mean it is currently unable to sell gold.Most Read from BloombergChina Plane Crash Update: Search Continues for Second Black BoxPutin Adviser Chubais Quits Over Ukraine War, Leaves RussiaNATO Boosts Forces in East Amid Chemical Incidents WarningApple Is Working on a Hardware Subscription Service for iPhones
For investors seeking a clear market signal, the last few weeks have been frustrating at best. So far this year, the main stock indexes are down – the S&P 500 has fallen just over 7%, while the NASDAQ is still in correction territory, with a 12% year-to-date loss. However, the market bounced back starting last week. We saw a week of solid gains that saw stocks make a strong rebound from their low points. The result: for the month of March, the S&P is up 3.9%, while the NASDAQ has gained 3.3%. Th
(Bloomberg) — Commodities markets have a well-worn saying that “the cure for high prices is high prices.” According to JPMorgan Chase & Co., the process may just be starting to happen in oil.Most Read from BloombergPutin Adviser Chubais Quits Over Ukraine War, Leaves RussiaChina Plane Crash Update: Search Continues for Second Black BoxRussia Central Banker Wanted Out Over Ukraine, Putin Said NoNATO Boosts Forces in East Amid Chemical Incidents WarningWall Street Is Scrambling For the Exits in M
Shares of the consumer goods company got hit as its earnings report fell short of Wall Street's hopes.
