X3 Holdings secures Central Asia bitcoin mining deal By Investing.com

SINGAPORE – X3 Holdings Co., Ltd. (NASDAQ:XTKG), a global provider of digital solutions and technology services, has entered into a multi-year hosting agreement with a prominent bitcoin mining hosting facility in Central Asia, the company announced today. This contract will enable X3 Holdings to deploy advanced, energy-efficient bitcoin miners, to achieve a combined hash rate of 1.4EH/s by the year 2025.

The agreement includes access to a hydro-powered electrical infrastructure, high-speed broadband connectivity, and operational support services. CEO Stewart Lor stated, “We are delighted to expand and strengthen our partnership with a top-tier hosting facility.” He emphasized the move as a key step in the company’s plan to increase its mining capacity using cost-effective electricity from renewable sources.

X3 Holdings operates in various business segments, including digital technologies, crypto-mining operations, renewable energy, and agriculture technologies. The company is headquartered in Singapore and maintains subsidiaries and operations worldwide.

This news article is based on a press release statement from X3 Holdings Co., Ltd.

InvestingPro Insights

As X3 Holdings Co., Ltd. (NASDAQ:XTKG) makes strides in enhancing its cryptomining capabilities, InvestingPro users gain an analytical edge with real-time data and insights. The company’s recent agreement to deploy advanced bitcoin miners is a significant step, but it’s essential to consider the financial health and market performance of X3 Holdings amidst this expansion.

InvestingPro data shows a market capitalization of $215.29 million USD for X3 Holdings, reflecting the company’s size in the marketplace. Despite ambitious operational goals, the company’s revenue has seen a sharp decline over the last twelve months, with a -60.55% change. This is coupled with a significant operating income margin of -256.42%, indicating challenges in profitability. These financial metrics are crucial for investors to understand the company’s current financial performance in the context of its growth strategies.

InvestingPro Tips highlight that X3 Holdings’ stock has experienced high volatility, with price movements being quite erratic. This is evidenced by the -96.49% one-year price total return, underscoring the stock’s performance challenges over the longer term. Additionally, the stock does not pay a dividend, which might influence investment decisions for those seeking income from their holdings.

While the company’s foray into energy-efficient bitcoin mining in partnership with a hydro-powered facility is promising, these financial insights from InvestingPro suggest that investors should approach with cautious optimism. For those seeking a deeper dive into the company’s financials and market performance, InvestingPro offers additional tips and metrics. To enhance your investment strategy, use the coupon code PRONEWS24 for an extra 10% off a yearly or biyearly Pro and Pro+ subscription. With 13 additional InvestingPro Tips available, investors can gain a comprehensive understanding of X3 Holdings’ potential risks and opportunities.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.