BRAINHOLE TECH completed the sale of its last 212,300 shares in U.S.-listed digital-asset miner TeraWulf Inc. on 4 March 2026, generating cash proceeds of US$3.20 million (HK$24.50 million) at an average price of US$14.86 per share.

Including a prior disposal of 126,000 shares on 1 November 2025 for US$1.90 million, the group’s total proceeds from TeraWulf divestments within 12 months amount to US$5.10 million (HK$39.60 million). The aggregated transactions exceed the 25 % size test threshold and are classified as a “major transaction” under HKEX Listing Rules; majority shareholder Yoho Bravo Ltd. (74.96 % stake) has provided written approval, obviating the need for a shareholder meeting.

The latest disposal is expected to deliver a pre-tax gain of approximately US$0.20 million (HK$1.40 million), reflecting the difference between the sale price and the HK$23.10 million carrying value of the shares. Post-transaction, the group’s net assets will rise by about HK$1.40 million, driven by the conversion of equity holdings into cash net of HK$0.01 million in transaction costs.

Of the US$3.20 million proceeds, US$2.40 million (HK$18.90 million) has already been redeployed to acquire 13,400 shares of Applied Optoelectronics and 29,000 shares of AXT on 4 March 2026. The remaining US$0.80 million (HK$5.60 million) is reserved for general working capital or other investment opportunities.

Management states that exiting TeraWulf optimises the group’s strategic-investment portfolio and frees up capital for higher-conviction technology positions. Following the transaction, BRAINHOLE TECH no longer holds any TeraWulf shares.