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Code Chain New Continent Limited (NASDAQ: CCNC) has appointed Zijing (Ryan) Xu as Chief Strategy Officer and a member of the Board of Directors, effective immediately. Xu, a notable figure in the blockchain community and co-founder of influential firms like Blockchain Global, will focus on enhancing the Company's strategic initiatives in Bitcoin mining. His expertise is expected to advance the Company's growth in cryptocurrency. Co-CEO David Feng welcomed Xu's track record, emphasizing the value he brings as Code Chain aims to expand its cryptocurrency operations.
Code Chain New Continent Limited (NASDAQ: CCNC) has successfully completed the acquisition of 10,000 Innosilicon T2T Bitcoin mining machines, enhancing its capacity to an estimated 240 PH/s. The delivery process, conducted under stringent regulatory supervision, took place in Xinjiang, China, from March 2 to 5, 2021. Co-CEO David Feng expressed confidence in the strategic expansion, aiming to capitalize on the rising Bitcoin prices, which have surpassed $57,000, potentially increasing shareholder value.
Code Chain New Continent Limited (NASDAQ: CCNC) announced its participation in the '2021 Bitmain Partner Summit' held on March 12, 2021, in Shenzhen, China. The summit, organized by Bitmain, a leading crypto mining company, focused on global sales strategies and developments in the cryptocurrency industry. Co-CEO David Feng emphasized the significance of forming a strategic partnership with Bitmain, aiming for growth and innovation in the mining sector. Code Chain, established in 2009, specializes in eco-friendly waste recycling systems and has diversified into electronic tokens through its subsidiary, Wuge.
Code Chain New Continent Limited (NASDAQ: CCNC) announced a purchase agreement with Bitmain Technologies for 2,000 Antminer S19j mining machines, totaling $10,034,000. The delivery is expected by October 31, 2021. This acquisition positions Code Chain to enhance its cryptocurrency mining operations and drive growth. Co-CEO David Feng emphasized the potential value this agreement brings to shareholders. The company is known for its eco-technology solutions and has diversified its business since its founding in 2009.
Code Chain New Continent Limited (NASDAQ: CCNC) has executed a Letter of Intent to acquire a 61% stake in Xiaojin Langlang Technology Co., Ltd., a prominent cryptocurrency mining center in China, for approximately USD 5.6 million. The acquisition structure involves 50% cash and 50% shares. Xiaojin Langlang's capabilities include managing a 7,000 square meter data center with a 62,000 kWH capacity, housing over 20,000 mining machines. Additional shares may be awarded based on net income performance targets for 2021, 2022, and 2023. The deal is subject to due diligence and board approvals.
Code Chain New Continent Limited (NASDAQ: CCNC) announced a purchase agreement for 10,000 Innosilicon T2T Bitcoin mining machines for around RMB 40 million (approximately USD 6.2 million). The deal is contingent upon final valuation and due diligence. The purchased machines will generate daily profits, deposited into the Company's account, with potential share bonuses for the Seller if daily profits reach RMB 200,000 within a year. This move marks a significant expansion into cryptocurrency mining, leveraging the recent surge in Bitcoin prices.
Code Chain New Continent Limited (NASDAQ: CCNC) successfully closed a registered direct offering, raising approximately $25 million in gross proceeds. The offering included 4,166,666 shares of common stock, along with registered warrants for 1,639,362 shares and unregistered warrants for 2,527,304 shares, sold at $6.00 per share. The net proceeds will be allocated for working capital and general business purposes. This move reflects the company’s commitment to enhancing its eco-technology initiatives.
Code Chain New Continent Limited (NASDAQ: CCNC) has entered a securities purchase agreement to sell 4,166,666 shares of common stock and 3,166,666 warrants in a registered direct offering and private placement. The price per share is $6.00, with gross proceeds expected to reach approximately $25 million. The offering is expected to close around February 22, 2021. Funds will be used for working capital and general business purposes. Univest Securities, LLC is the placement agent for this offering, which was made under SEC regulations.
Code Chain New Continent Limited (NASDAQ: CCNC) announced the appointment of David Feng as Co-CEO and Dr. Jianing (George) Yu as COO. Feng brings extensive experience in blockchain technology and network security, while Dr. Yu is a prominent economist in the digital economy. This leadership change aims to enhance the company's focus on cryptocurrency expansion and solidify its presence in the fintech and blockchain sectors. The company's ongoing projects include solid waste recycling systems and the development of unique electronic tokens based on blockchain technology.
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