Addentax signs a memorandum of understanding to raise $200 million to support cryptocurrency and AI strategies

The Nasdaq-listed company Addentax Group announced that it has signed memorandums of understanding with two investment institutions to issue common stock at a price of $1.50 per share to raise a total of $200 million, in order to support business growth in the fields of artificial intelligence (AI) and cryptocurrency financial services.

The company proposed a long-term investment and holding strategy for crypto assets last year, planning to acquire up to 12,000 bitcoins, as well as cryptocurrencies like TRUMP.