Addentax Group to Acquire $800 Million in Bitcoin and Digital Assets via Stock Issuance

Addentax Group Corp., a publicly traded company listed on the Nasdaq (ATXG), has initiated discussions to acquire up to $800 million worth of Bitcoin and other digital assets. The company intends to achieve this through an equity issuance program, engaging with prominent cryptocurrency holders who collectively control approximately 8,000 BTC. While no definitive agreements have been reached, the company’s stock (ATXG) experienced a significant drop following the announcement, falling nearly 7% on May 15th.