DL Holdings Group Restricted has partnered with Fortune Peak Restricted to broaden into Bitcoin mining, marking its first vital transfer into digital-asset infrastructure.
The Hong Kong-listed firm plans to difficulty convertible bonds to fund the acquisition of high-efficiency mining tools. Its aim is to supply about 200 BTC yearly and construct greater than 4,000 BTC reserves inside the subsequent two years.
DL Holdings Outlines Bitcoin Mining Technique
Hong Kong-based DL Holdings Group Restricted mentioned it can collaborate with Fortune Peak Restricted to enter the Bitcoin mining sector. The corporate intends to accumulate superior mining tools by way of a convertible bond issuance. It goals to develop into Hong Kong’s first listed Bitcoin hashrate inventory. DL Holdings tasks an annual output of roughly 200 BTC. The corporate plans to construct greater than 4,000 BTC reserves over two years.
Fortune Peak’s controlling shareholder, a former Chief Funding Officer at Antalpha Capital, brings expertise in digital-asset operations and expertise. This partnership offers DL Holdings entry to newer mining {hardware} and operational experience.
Convertible Bonds to Fund Mining Growth
DL Holdings will buy 2,200 S21XP HYD miners with an estimated hashrate of 1,040,600 TH/s. The corporate will fund the $21.85 million transaction by issuing zero-coupon convertible bonds. The preliminary conversion value is HK$3.17 ($0.41) per share. This represents about an 8.65% low cost to the five-day common closing value. The bonds and the shares issued upon conversion might be topic to a two-year lock-up.
The corporate may even difficulty 40 million warrants at an train value of HK$3.80 ($0.49) per share, a few 9.51% premium to the five-day common. Half of the warrant shares will carry a six-month lock-up. As much as 13.44 million earn-out shares could also be issued if efficiency targets are met.
Bitcoin Market Context and Institutional Curiosity
Bitcoin accounts for roughly 55% to 58% of complete crypto market capitalization and has an estimated market worth of about $2.29 trillion as of September 2025. Institutional curiosity has grown, with governments together with the US and UK reporting notable holdings and asset managers comparable to BlackRock and Constancy providing Bitcoin exchange-traded funds.
DL Holdings mentioned direct Bitcoin mining might diversify its stability sheet and supply recurring income. Administration estimates the brand new tools might generate about 200 BTC yearly, which might produce round $20 million in income at illustrative costs. The corporate additionally raised over $83.5 million in August 2025 to fund digital-finance initiatives comparable to tokenized property and virtual-asset buying and selling providers.
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