New digital assets strategy marks company’s first operational step into blockchain sector
Hong Kong–based BitVentures Limited has officially entered the cryptocurrency mining industry, launching a US-based mining operation just weeks after completing its Nasdaq rebrand. The move represents the company’s first direct operational involvement in digital assets, following several years of financial losses and declining shareholder value.
According to recent disclosures, BitVentures acquired multiple fleets of Antminer hardware from Bitmain, covering machines designed to mine Bitcoin (BTC), Litecoin (LTC), and Dogecoin (DOGE). The acquisition includes 0.5 megawatts of power capacity across US data centers, with full deployment expected later this month.
The company described the mining initiative as the foundation of a broader digital assets strategy. Future expansion plans include staking services and blockchain node operations, although no timelines or capital commitments have yet been disclosed.
Strategic Pivot After Years of Losses
Formerly known as Santech Holdings, the company rebranded to BitVentures on December 24 and changed its Nasdaq ticker from STEC to BVC. Prior to the pivot, the business focused on technology investments, e-commerce, and digital consumer services.
Financial performance underscores the shift. In the first half of fiscal year 2025, BitVentures reported zero revenue, down from $17.4 million a year earlier, after exiting asset and wealth management operations. The stock has lost approximately 89% of its value since listing, despite a recent short-term rally.
The move highlights a growing trend of public companies turning to digital assets in an effort to reset strategy, attract investor interest, and rebuild long-term value.
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