US-listed company 3E Network Technology Group is planning to purchase BTC to establish a crypto reserve
By: theblockbeats.news|2025/07/28 12:22:24
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BlockBeats News, July 28th, according to businessinsider report, enterprise information technology solutions provider 3E Network Technology Group Limited (NASDAQ: MASK) today announced that it has completed the first batch delivery of three previously disclosed private placements on June 9, 2025, and intends to use part of the proceeds to purchase Bitcoin. This strategic move aims to build the company's cryptocurrency reserves to support its development plans in the Web3.0 era.
This issuance involves three tranches of private placement to institutional investors, with a total principal amount of up to $7.4 million of senior secured convertible notes and accompanying warrants. The principal amount of the first batch of notes is $2.2 million, and the related warrants are issued in two tranches, with delivery completed on July 8, 2025.
It is reported that 3E Network Technology Group Limited is an enterprise information technology solutions provider. Through its two subsidiaries - Guangzhou 3E Network Technology Co., Ltd. (in Mainland China) and 3E Network Technology Company Limited (in Hong Kong, China), the company initially provided software and hardware integration solutions for the property management and exhibition service fields, and gradually expanded its software solutions to multiple fields such as catering, real estate, exhibition conferences, and clean energy utilities.
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