BitVentures Restricted has entered the cryptocurrency mining sector, launching a brand new digital belongings enterprise lower than two weeks after rebranding to mirror its new give attention to blockchain-related ventures.
The Hong Kong–primarily based expertise firm mentioned it has acquired fleets of mining {hardware} from Bitmain, together with three forms of Antminer machines, to mine Bitcoin (BTC), Litecoin (LTC) and Dogecoin (DOGE), in line with a Friday report from Investing.com.
The corporate mentioned the acquisition contains 0.5 megawatts of energy capability throughout knowledge facilities in the USA, with deployment of the mining tools anticipated later this month.
BitVentures described the mining operation as the muse of a broader digital belongings technique and mentioned it plans to develop into different areas of the sector, together with staking and node operations, although it didn’t present extra particulars.
Till December, BitVentures operated beneath the identify Santech Holdings, buying and selling on Nasdaq beneath the ticker STEC. The corporate formally rebranded to BitVentures and adopted the ticker BVC on Dec. 24, in line with filings with the US Securities and Alternate Fee (SEC).
Earlier than the rebrand, Santech functioned primarily as a technology-focused holding firm, with enterprise pursuits spanning early-stage expertise investments, e-commerce platforms and consumer-focused digital companies, reasonably than blockchain or cryptocurrency-related operations.
“The Firm believes that the brand new identify aligns effectively with the Firm’s imaginative and prescient and give attention to creating and investing in early-stage expertise ventures,” the submitting mentioned.
Associated: Most crypto treasuries ‘will disappear’ amid bleak 2026 outlook: Execs
A curious wager
BitVentures Restricted is way from the one publicly listed firm to pivot into digital belongings in latest months, as extra enterprises search publicity to cryptocurrencies, usually in an effort to revive struggling companies or arrest extended share-price declines.
As Cointelegraph beforehand reported, biotech firm 180 Life Sciences pivoted to an Ethereum treasury technique final summer season after its inventory had fallen about 99%.
Different publicly traded corporations which have adopted digital asset treasury methods embrace nonbank lender Mill Metropolis Ventures, client merchandise agency Upexi and agricultural expertise firm Nature’s Miracle.
BitVentures’ share value decline has been dramatic. The corporate’s lifetime return as a public issuer stands at roughly adverse 89%, in line with knowledge from Yahoo Finance.
The corporate’s underlying monetary efficiency helps clarify the strategic pivot. Through the first half of fiscal 12 months 2025, BitVentures reported zero income, down from $17.4 million in the identical interval a 12 months earlier, after exiting its asset administration and wealth administration enterprise strains.
Associated: After $400M splurge, ETH treasurer eyes inventory buyback amid leverage considerations
