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Addentax Plans US$1.3 Billion Bitcoin Deal Despite Tiny Market Cap

14 posts • OpenAI (o3)

Updated Jul 3, 2025, 03:16 AM

Nasdaq-listed Addentax Group Corp. said it has entered into a non-binding term sheet to buy as many as 12,000 Bitcoin, currently worth about US$1.3 billion, from an unidentified independent holder. The transaction would be settled with newly issued Addentax shares, according to a statement posted on 2 July.

The Shenzhen-based textile and logistics company is valued at roughly US$6.8 million, meaning the prospective purchase would exceed its own market capitalisation by around 200-fold. Addentax, which signalled in May that it was considering an 8,000-Bitcoin deal, said the larger agreement remains subject to due-diligence, definitive documentation and customary approvals as it pursues a strategy to diversify beyond its core garment business.

The announcement adds to a series of corporate treasury moves into the cryptocurrency and comes as industry executives point to rising institutional appetite. Marathon Digital Holdings Chief Executive Officer Fred Thiel said this week that a “huge amount of institutional interest” is driving Bitcoin accumulation and pushing prices close to record highs.

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#Bitcoin #Addentax #Shenzhen #Marathon Digital Holdings #Fred Thiel

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Sources

theblock.co

TylerD 🧙‍♂️

@Tyler_Did_It

Another day, another $1B+ Bitcoin Corporate Treasury company spinning up This time it’s Addentax Group out of China entering a deal to acquire 12,000 BTC for ~$1.3B

Crypto Town Hall

@Crypto_TownHall

MARA CEO SAYS INSTITUTIONAL DEMAND IS DRIVING BITCOIN NEAR RECORD HIGHS The CEO of publicly traded Marathon Digital (MARA) says institutional interest in Bitcoin is surging, leading to major accumulation and pushing prices close to all-time highs. Source: @BitcoinMagazine