Lead Benefit, a Hong Kong subsidiary of Mingcheng Group, once again spent $27 million to purchase 333 Bitcoins

Mingcheng Group Holdings Limited (NASDAQ stock code: MSW) is a Hong Kong company mainly engaged in mud and water engineering. It announced that its wholly-owned Hong Kong subsidiary Lead Benefit purchased 333 bitcoins at an average price of $81,555 per bitcoin on February 28, 2025, with a total investment of approximately $27 million. Mingcheng plans to use its idle funds to purchase bitcoins as a short-term investment to capture the potential appreciation of bitcoins and increase its assets. The company believes that the bitcoin market has high liquidity, and bitcoins can be easily disposed of to provide funds for the company's wet operation engineering business when needed.

Earlier news, Lead Benefit purchased 500 bitcoins at an average price of $94,375 per bitcoin on January 9, 2025, with a total investment of approximately $47 million.