Hong Kong stock listed company Madison Holdings plans to acquire billions of US$100 million blockchain equipment

Madison Holdings Group Co., Ltd. and mining machine manufacturer Yibang Communications entered into a non-legally binding memorandum of understanding regarding potential business. By agreement, Madison will acquire the total amount of Yibang no more than 1 before December 31, 2020. Billion dollar blockchain computing equipment, cryptocurrency mining machine and computing chip, Yibang will provide corresponding preferential prices and technical guidance; Madison will set up an investment fund to be managed by the company's wholly-owned subsidiary CVP Asset Management Limited to invest in the district Companies and projects in the blockchain industry. The contracting party will be the seed investor of the blockchain investment fund. Third-party investors will also be recruited, the total size of the target fund is not less than 500 million US dollars; the contractor focuses on the research and development of the underlying technology application of the blockchain, including 5G applications, blockchain, artificial intelligence, big data, Projects related to the integration of data and information-related industries such as Internet of Things, data sharing, digital government, major people's livelihood, smart cities, finance, etc.; contractors will cooperate to explore trends in the blockchain industry, research and development blockchain Technology and its applications, as well as nurturing talent in the blockchain industry.