DL HOLDINGS GP (01709) announced that on October 17, 2025, the company signed formal agreements with BM1 and BM2 regarding the acquisition of BM mining machines, which includes 1,900 units of BM mining machine 1 and 1,095 units of BM mining machine 2. The total consideration for the acquisitions amounts to approximately $8.3491 million (equivalent to HK$65.1228 million) and $10.8766 million (equivalent to HK$84.8378 million), respectively. The acquisitions, along with the BTC mining machine acquisitions (collectively referred to as "the Acquisitions"), will enable the group to acquire leading Bitcoin mining hardware, directly supporting the group's ambition to become the first listed "Bitcoin Hash Rate Stock" in Hong Kong, with a total hash rate of approximately 2.1 million TH over three years, targeting an annual output capacity of around 350 Bitcoins and a planned reserve of over 1,000 Bitcoins. Based on a total hash rate of approximately 1.06 million TH/s, the expected annual output from the BM mining machines is about 175 Bitcoins. By acquiring a total of 2,995 units of S21e Hyd./S21e XP Hyd. mining machines from the BM acquisitions (along with 2,200 units of Antminer S21XP Hyd. from the BTC mining machine acquisitions), the group will achieve a leading position in Bitcoin mining hash rate. The group's digital asset department has designated operational personnel to assess and monitor the computational capabilities of the BM mining machines, utilizing a transparent third-party ASIC mining machine management platform and pool monitoring dashboard to monitor hash rate, temperature, and performance data in real time, ensuring objective verification of mining operations and real-time monitoring of machine status while reconciling pool allocation records and expected versus actual mining revenues. This departmental leadership is supported by a senior professional with over ten years of experience in the cryptocurrency and blockchain industry, covering investment, mining operations, ecosystem building, and digital asset management. The team possesses expertise in compliance within cryptocurrency exchanges and formulation of operational procedures for blockchain projects, familiar with daily regulatory and compliance requirements for digital asset activities. The acquisition from BM1 and BM2 also assists the company in obtaining high-quality mining machines located in premium hosting sites, which is crucial for enhancing operational efficiency and ensuring that mining activities are uninterrupted. These locations provide stable power supply, cooling facilities, and network connectivity - essential for maintaining competitive mining yields and safeguarding asset value. Prior to the delivery of the BM mining machines, the group will enter into framework agreements with the designated hosting service providers of BM1 and BM2 for the daily operations and maintenance of the BM mining machines. These vendors will provide comprehensive hosting and maintenance services for servers located in data center facilities in Oman and Paraguay, charging a monthly service fee. The hosting and maintenance services primarily include physical space within controlled environments, adequate server rooms and racks, power supply and facilities, network infrastructure, cooling and dust prevention equipment, security monitoring, and other necessary facilities to ensure stable and efficient mining operations. The group will be responsible for overseeing the overall operations of the BM mining machines, focusing on crucial operational aspects such as pool connections, wallet address management, and execution of mining performance policies. These hosting arrangements and oversight are consistent with industry best practices for hosted mining operations, ensuring operational efficiency aligns with the overall strategic objectives of the group. As the mining operations are managed by hosting service providers, the group will implement a series of security measures to safeguard asset security, ensuring all mined Bitcoins are directly deposited into a custodied wallet, with assets safely stored and managed according to institutional-grade custody standards. The hosting and operational agreements will also include intervention and migration rights, service level agreement (SLA) compensation measures, and regular review and audit clauses. These arrangements provide continuous oversight, operational transparency, and effective protection for the group's digital assets. Bitmain (the parent company of BM1 and BM2) is the largest and most technologically advanced manufacturer of Bitcoin mining machines worldwide, with its Antminer series setting industry standards for performance, energy efficiency, and reliability. Bitmain continues to innovate, introducing advanced liquid cooling technology, including the S21XP Hyd. model, which offers significant operational efficiency and sustained profitability advantages. The partnership with Bitmain ensures that the group not only acquires top-tier hardware but also benefits from ongoing technical support, firmware upgrades, and priority access to future mining machine innovations. Through a direct relationship with the world-leading mining hardware supplier Bitmain, this hosting collaboration guarantees a continuous supply of equipment, technical support, and operational expertise, solidifying the group's technological edge, operational resilience, and growth capacity in a highly competitive industry characterized by high technological barriers and innovation. The Board believes that signing these formal agreements will deliver long-term financial returns and value for shareholders. The acquisitions will further strengthen the group's leadership position in the Bitcoin mining business among Hong Kong-listed companies, create diversified revenue sources, and enable the group to seize rapidly expanding market opportunities in the digital asset and blockchain sectors. Considering the aforementioned benefits, the Board believes that the terms of the formal agreements and the anticipated transactions are on standard commercial terms, fair and reasonable, and in the overall interest of the company and its shareholders.