Brainhole Technology Limited (2203) disclosed a further acquisition of 118,000 shares of TeraWulf Inc. (Nasdaq: WULF) on October 29, 2025, amounting to approximately US$1.9 million (equivalent to HK$15.0 million). This acquisition was executed through an open-market purchase at an average price of about US$16.32 per share (equivalent to HK$126.95), and was financed by proceeds from the recent disposal of Nebius shares.

When combined with previous acquisitions totaling US$2.8 million, the aggregated transaction value of all TeraWulf shares acquired within a 12-month period stands at approximately US$4.7 million (HK$36.9 million). As a result, the further acquisition constitutes a major transaction under Chapter 14 of the Listing Rules, requiring reporting, announcement, and circular issuance. Written shareholder approval has been obtained from Yoho Bravo Limited, which holds around 74.96% of the company's issued share capital.

TeraWulf is a Delaware-based digital asset technology enterprise focused on digital asset mining and high-performance computing. According to published financial information, TeraWulf recorded revenue of approximately US$140.1 million for the year ended December 31, 2024. The company's unaudited consolidated net assets stood at around US$174.3 million (HK$1,356.1 million) as of June 30, 2025. Brainhole Technology’s management views this investment as an opportunity to expand its portfolio exposure to cutting-edge technology sectors, citing TeraWulf’s role in next-generation data center solutions. A circular with detailed information on the transaction will be dispatched within 15 business days for shareholder reference.