Mingcheng Group's Hong Kong subsidiary Lead Benefit invests $27 million again to purchase 333 bitcoins

According to Globenewswire, Ming Cheng Group Holdings Limited (NASDAQ: MSW), a Hong Kong company primarily engaged in slurry engineering, announced that its wholly-owned Hong Kong subsidiary, Lead Benefit, purchased 333 bitcoins on February 28, 2025 at an average price of $81555 per bitcoin, with a total investment of approximately $27 million. Mingcheng intends to use its idle funds to purchase Bitcoin as a short-term investment, in order to capture the potential appreciation of Bitcoin and increase its assets. The company believes that the Bitcoin market has high liquidity and Bitcoin can be easily disposed of to provide funding for the company's wet engineering business when needed. Previously, Lead Benefit purchased 500 bitcoins on January 9, 2025 at an average price of $94375 per bitcoin, with a total investment of approximately $47 million.