Tianci International signs crypto mining hosting deal with BTC Digital

Tianci International, Inc. (NASDAQ: CIIT) announced it has entered into a cryptocurrency mining machine hosting agreement with BTC Digital Ltd. (NASDAQ: BTCT), according to a press release from the company.

Under the agreement, BTCT will provide hosting facilities, electricity, network connectivity, environmental controls, security, technical support, and installation and testing services for cryptocurrency mining machines that CIIT recently contracted to purchase. BTCT will also assist with connecting the equipment to its operating infrastructure in the United States.

CIIT previously disclosed the mining equipment purchase agreement in a Form 8-K filed with the U.S. Securities and Exchange Commission. The company stated the move is intended to support the settlement of trade operations carried out by CIIT and its subsidiaries.

The mining equipment is still subject to delivery, acceptance, transportation, installation, and testing before being placed into operation. The companies said they plan to evaluate additional hosting capacity and further technical cooperation based on the performance of the initial batch of equipment.

"Our initial priority in working with BTCT is to ensure that the equipment is deployed smoothly and operates reliably, while using actual operating data to gain a clear understanding of hashrate, energy consumption and costs," said Shufang Gao, Chief Executive Officer of CIIT.

CIIT said it also plans to evaluate alternative hosting locations, power arrangements, and cooperation models to reduce risks associated with operational concentration. The company noted that rated hashrate does not represent actual online hashrate and that it cannot guarantee the timing of deployment, the scale of operations, mining output, or financial returns.

Tianci International operates primarily through its subsidiary Roshing, which provides ocean freight forwarding services across the Asia-Pacific region. The company has also expanded into mineral trading, electronic parts sales, and business consulting. BTC Digital is incorporated in the Cayman Islands with principal executive offices in Singapore and conducts cryptocurrency mining operations in the United States.

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