The Hong Kong-based company Ming Shing has entered into an agreement to purchase 4,250 Bitcoin for approximately $483 million. The company said the deal is a “strategic investment” to “capture the potential appreciation of Bitcoin and increase the company’s assets.”
Ming Shing Group, a construction company headquartered in Hong Kong, has signed an agreement to acquire 4,250 Bitcoin, which is estimated to be worth $483 million.
A Bitcoin purchase agreement has been entered between the Nasdaq-listed firm that engages in wet transactions and the British Virgin Islands-registered Winning Mission Group. The company will sell 4,250 BTC to Ming Shing at an average price of $113,638 per Bitcoin.
Ming Shing Group has been holding Bitcoin since January 13, 2025, as Bitcoin Treasuries data indicates. At present, the organization maintains 833 Bitcoin, which are valued at $94.93 million.
Michael Saylor’s strategy has pioneered a wave of public companies that have integrated Bitcoin into their treasury strategy, and Ming Shing has now joined the fray with this announcement. KindlyMD recently entered the Bitcoin treasury race with a bang, acquiring 5,743.91 BTC through its wholly owned subsidiary.
Ming Shing to Issue Stock Warrants and Convertible Promissory Notes
The Bitcoin purchase agreement is anticipated to be finalized by the conclusion of the current year. As announced on Wednesday, the Hong Kong firm will issue convertible promissory notes and share warrants under the agreement.
The release stated that the maturity date is 120 months from the original issuance date of the Note, as stipulated in the Note.
In addition, Rich Plenty Investment Limited, a third-party firm, will receive half of the deal’s value, which is 2,125 Bitcoin to be precise. The original vendor and the third party will each receive a convertible note valued at over $241 million and a warrant to purchase Ming Shing’s shares of $201 million.
According to Wenjin Li, CEO of Ming Shing, the prospective asset appreciation could be captured by the Bitcoin investment. Additionally, it would augment the company’s assets, as the market is exceedingly liquid.
Li further stated, “We are committed to generating supplementary value for our shareholders and are actively investigating opportunities for the company to expand.”
MSW Stock Jumps Nearly 30%
Ming Shing’s stock (MSW) experienced a 29% increase on Wednesday due to the announcement of the BTC purchase. According to Yahoo Finance data, the stock ended the day at $1.65, an 11.5% increase.
Nevertheless, the stock has been on a downward trajectory and has a strong sell technical sentiment signal.
