International Business Settlement Holdings Limited (Stock Code: 00147) announced that its non-wholly owned subsidiary, Keen Golden Limited (70% held by the Group), has entered into a Strategic Cooperation Framework Agreement with Sharpening Technology Limited, a wholly owned subsidiary of Bitdeer Technologies Group (NASDAQ: BTDR). The agreement covers cloud hashrate mining services valued at up to US$100 million (approximately HK$780 million) over a one-year term.

Keen Golden also executed an initial Cloud Hashrate Service Agreement with Sharpening Technology, securing at least 1 EH/s of cloud mining services for 365 days. The total consideration of US$15 million (approximately HK$117 million) was settled in Bitcoins, pegged at a reference price of approximately US$102,239 per Bitcoin.

According to the announcement, during the period from 17 October 2025 to 7 November 2025, the Group purchased a total of about 247.8694 Bitcoins on a licensed trading platform for US$25.7 million (approximately HK$200 million), at an average acquisition price of around US$103,748.3. Subsequently, on 10 November 2025, Keen Golden disposed of 146.7 Bitcoins at a total value of US$15 million (approximately HK$117 million).

As stated, these acquisitions and disposal of Bitcoins, in conjunction with previous transactions of the Group over the last 12 months, exceed certain listing threshold ratios under Chapter 14 of the Listing Rules and accordingly are categorized as discloseable transactions. The Board views these steps—especially the establishment of cloud mining agreements—as part of the Group’s ongoing strategy to expand its cryptocurrency-related operations while managing costs and operational risks.