3 E Network Technology Group Limited Announces Strategic Equity Investment in HashBeaver to Accelerate Blockchain Innovation
Partnership Combines the Company's B2B IT Expertise with HashBeaver's Cutting-Edge Cloud Mining Solutions for Cross-Industry Growth
Guangzhou, China, March 20, 2025 (GLOBE NEWSWIRE) -- 3 E Network Technology Group Limited ("3e Network" or the "Company") (NASDAQ:MASK), a business-to-business ("B2B") information technology ("IT") business solutions provider, today announced that it has entered into a Memorandum of Understanding ("MoU") with HASH BEAVER PTE. LTD ("HashBeaver"), a Singapore-based company with a dedicated cloud mining platform in the digital currency financial sector. The MoU outlines the Company's strategic equity investment in HashBeaver, marking a transformative step to integrate blockchain-driven solutions into its IT ecosystem.
Pursuant to the MoU, 3e Network intends to acquire a 4.9% equity stake in HashBeaver, valuing the cloud mining innovator at a pre-money valuation of $30 million. The MoU is a non-binding document and the final investment terms are subject to terms in a definitive agreement. The investment outlined in the MoU focused on merging 3e Network's B2B software expertise with HashBeaver's advanced blockchain infrastructure.
As a rising player in the digital asset space, HashBeaver has rapidly gained industry recognition for its expertise in cloud mining and cryptocurrency financial services. Leveraging the collective expertise and capital of industry giants, HashBeaver has secured strategic investment from MinerVa Semiconductor, a leading manufacturer of cryptocurrency mining hardware, providing a solid foundation for ongoing innovation and growth. Additionally, HashBeaver has reported the achievement of key milestones, including the management of 9.6 EH/s of computing power, the establishment of 5 global mining facilities, and the completion of 290 MW of capacity, as of July 2, 2024, according to its website. By the end of 2024, the total capacity is expected to reach 425 MW, according to the same source.
Dr. Tingjun Yang, Co-Chief Executive Officer and Director of 3e Network, commented: "We believe this MoU will strengthen our strategic collaboration and pave the way for broader cooperation in the future. By leveraging HashBeaver's expertise and strong position in cloud mining services, we are confident in expanding our IT business solutions and creating significant value for both companies' shareholders."
About HashBeaver
HashBeaver is engaged in cloud mining services, dedicated to revolutionizing the digital currency landscape. The company provides solutions for digital asset management, catering to both individual and institutional clients. As a recipient of strategic investment from MinerVa Semiconductor, a cryptocurrency mining hardware manufacturer, HashBeaver continues to push the boundaries of innovation in computing power services. HashBeaver's mission is to build secure, transparent, and compliant blockchain infrastructures. Through its global operations and strong emphasis on sustainability, HashBeaver empowers clients to achieve efficient and profitable digital asset management.
About 3 E Network Technology Group Limited
3 E Network Technology Group Limited is a business-to-business ("B2B") information technology ("IT") business solutions provider. Through its two subsidiaries, Guangzhou Sanyi Network and Guangzhou 3E Network, the Company began by offering integrated software and hardware solutions for the property management and exhibition services spaces. Over time, 3 E Network expanded its software solutions offerings to serve a variety of sectors, including food establishments, real estate, exhibition and conferencing, and clean energy utilities. The Company's business comprises two main portfolios: the software development portfolio and the exhibition and conference portfolio. For more information, please visit the Company's website at http://ir.3etech.cn.
Forward-Looking Statements
Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company's current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as "approximates," "assesses," "believes," "hopes," "expects," "anticipates," "estimates," "projects," "intends," "plans," "will," "would," "should," "could," "may" or similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company's registration statement and other filings with the U.S. Securities and Exchange Commission.
For more information, please contact:
3 E Network Technology Group Limited
Investor Relations Department
Email: [email protected]
