Addentax Group Eyes $800M Bitcoin Acquisition in Strategic Crypto Shift

Addentax Group Corp. (Nasdaq: ATXG) has revealed that it is in ongoing discussions with a group of major cryptocurrency holders to acquire up to 8,000 Bitcoins

Addentax Group Corp. (Nasdaq: ATXG) is in discussions to buy up to 8,000 Bitcoins and other mainstream digital assets for nearly $800 million at current prices, according to a statement on Monday.

The company is planning to fund the purchase through the issuance of common stock.

The company said it has been engaging with major cryptocurrency holders known for their deep understanding and networks within the digital asset space.

"The prospective sellers are said to collectively control the full 8,000 BTC being targeted, along with other coins including "Official Trump," it added.

This move aligns with Addentax's broader strategy to diversify its balance sheet by holding highly liquid and widely recognized digital assets, while also attracting strategic shareholders with experience in the crypto sector. The company views this step as foundational in building its footprint in blockchain and digital finance.

"This initiative supports the Company's broader blockchain strategy by facilitating potential acquisitions of digital assets such as BTC and introducing strategic investors with experience in the crypto ecosystem," said CEO Hong Zhida.

"We believe that certain established digital assets may serve as a stable component of the Company's long-term holdings."

If completed, this acquisition would mark a significant shift for ATXG, bringing both exposure to crypto markets and potentially influential backers into the company's shareholder base. The move also reflects a growing trend among public companies to treat Bitcoin as a treasury reserve asset amid increasing institutional adoption.