Addentax Group (ATXG) said Thursday it is in discussions with major cryptocurrency holders to acquire up to 8,000 bitcoins and other cryptocurrencies valued at nearly $800 million, through the issuance of common shares.
No definitive agreement has been reached, the company said.
The Shenzhen, China-based company said it "aims to strengthen its balance sheet by acquiring highly-liquid and widely recognized digital assets, while also bringing in new shareholders with demonstrated experience and expertise in the cryptocurrency sector."
Addentax shares were 52% higher at about $1.19 in recent trading.
Price: 1.18, Change: +0.40, Percent Change: +51.67
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