3E Network Technology plans to buy Bitcoin with offering proceeds

3E Network Technology Group Limited (NASDAQ: MASK) completed the first tranche of a three-tranche private offering and plans to use part of the proceeds to purchase Bitcoin, according to a company statement.

The Hong Kong-based B2B information technology solutions provider closed the first tranche on July 8, 2025, raising $2.2 million through senior secured convertible notes and accompanying warrants. The complete offering involves up to $7.4 million in aggregate principal amount across three tranches to an institutional investor.

The company stated the Bitcoin purchase aims to build cryptocurrency reserves and support growth initiatives in Web 3.0. The initial offering was announced on June 9, 2025.

3E Network operates through two subsidiaries in China and Hong Kong, providing integrated software and hardware solutions for property management and exhibition services. The company has expanded its software offerings to serve food establishments, real estate, exhibition and conferencing, and clean energy utilities sectors.

The company's business comprises two main portfolios: software development and exhibition and conference services.

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