Hao Tian International enters crypto market with ether acquisition

Hao Tian International Construction Investment Group Limited announced the acquisition of 646 units of ether (ETH) for approximately $2.71 million, excluding transaction costs. The purchase was executed through an open market transaction and funded by the group's internal resources. The company stated it is not aware of the identities of the vendors, but confirmed they are independent third parties.

The board believes the acquisition is a sound move, citing the growing adoption of blockchain technology and cryptocurrencies. They noted ETH's status as a mainstream crypto asset, its legal backing from Hong Kong's stablecoins ordinance, and recognition from the U.S. Guiding and Establishing National Innovation for U.S. Stablecoins Act. This strategic move anticipates an appreciation in ETH's value and price.

The directors view the acquisition terms as fair and reasonable, aligning with the interests of the company and its shareholders. The company advises shareholders and investors to exercise caution when trading its securities.