Kaixin Holdings, a prominent Chinese electric vehicle manufacturer, is in advanced discussions to acquire a controlling stake in a leading Bitcoin mining company based in the Middle East, as reported by Nasdaq.

The target company operates cost-efficient Bitcoin mining machines and offers comprehensive cloud hosting services, benefiting from a stable, long-term energy supply.

Kaixin Holdings, listed on NASDAQ under the ticker KXIN, is recognized for producing electric passenger and logistics vehicles.

The Middle Eastern cryptocurrency mining company under consideration is noted for its efficient Bitcoin mining operations and end-to-end cloud hosting services.

Its access to a stable energy supply enhances operational resilience and cost efficiency, making it an attractive prospect for Kaixin’s expansion into the crypto mining industry.

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