Hao Tian International to buy Ether with HK$35.75m from shelved data center

Hao Tian International Construction Investment Group Limited has resolved to redirect HK$35.75 million in remaining proceeds from a prior share placement towards purchasing Ether (ETH), a cryptocurrency. This decision, made on 3 September 2025, follows an assessment that the internet data center development in Malaysia was no longer feasible given the current economic environment and the Group's financial resources, leaving the funds idle.

The initial placing, announced on 3 October 2024 and 12 May 2025, raised approximately HK$49.25 million. Of this, 72.66% was intended for the data center, 15.68% for general working capital, and 11.66% for loan repayment. HK$13.5 million has already been utilized for general working capital and loan repayment, leaving the remaining HK$35.75 million unused.

The board anticipates fully utilizing the remaining proceeds within one month, citing the widespread adoption of blockchain technology and the increasing accessibility of cryptocurrencies as reasons for the pivot. Shareholders and investors are advised to exercise caution when dealing in the company's securities.