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Hong Kong-based Ming Shing Group Holdings has announced a landmark move into digital assets, agreeing to acquire 4,250 bitcoins valued at nearly $483 million. The NASDAQ-listed construction firm signed the deal with Winning Mission Group Limited, marking its first step toward a bitcoin treasury strategy. The purchase is expected to close by December 31, 2025, with payments structured through convertible promissory notes and share warrants.
As part of the deal, half of the transaction was assigned to Rich Plenty Investment Limited, which issued a promissory note equivalent to 2,125 bitcoins. Both the seller and the assignee will receive convertible notes and warrants, enabling them to acquire up to 201.2 million ordinary shares. The notes carry a 3% annual interest rate over ten years, while the warrants allow share purchases for 12 years, both subject to ownership caps.
Ming Shing CEO Wenjin Li said the move strengthens the company’s balance sheet with digital assets. “This acquisition allows us to benefit from bitcoin’s liquidity and potential long-term growth,” Li stated, highlighting a rising trend among Asian firms diversifying into cryptocurrencies.
