Meten Holding Group Ltd. Provides Updates on its Blockchain and Digital Currency Business

SHENZHEN, China, July 28, 2022 /PRNewswire/ — Meten Holding Group Ltd. (“Meten Holding Group” or the “Firm”) (NASDAQ: METX), an omnichannel coaching firm headquartered in China offering language and office coaching companies and actively growing metaverse, blockchain and cryptocurrency mining companies, as we speak offered updates on its blockchain and digital forex enterprise.

As beforehand disclosed in a press launch in December 2021, Meten Holding Group established the three way partnership, Met Chain Co., Restricted (“Met Chain”), specializing within the analysis and growth (“R&D”), manufacturing, and gross sales of cryptocurrency mining tools. Since its formation, Met Chain has generated income of roughly US$4.86 million from gross sales of cryptocurrency mining tools and offering cryptocurrency mining tools gross sales companies, regardless of the tumbled costs of cryptocurrencies. The Firm expects to see a rise within the orders Met Chain receives and Met Chain is predicted to generate income exceeding US$20 million by the tip of 2022.

As beforehand disclosed in a press launch in February 2022, the Firm bought 600 XP mining machines from Bitmain Applied sciences Ltd. with an mixture computing energy of roughly 100PH/s. A few of these mining machines have been delivered and put into operation.

As part of the Firm’s technique to develop its metaverse enterprise, the Firm has established an NFT division to give attention to NFT-related funding, technique, and tasks. The Firm is present proactively in search of potential collaborations with well-known IP suppliers.

Mr. Jason Zhao, Chairman of Meten Holding Group, commented, “We’re excited to see these achievements on this difficult market and one other strategy to maneuver towards our metaverse initiative. Though the cryptocurrency market suffered from troublesome microeconomic components and tightening financial insurance policies, the monetary outcomes of Met Chain mirrored the Firm’s efforts and dedication to the cryptocurrency enterprise and our decision to remodel right into a metaverse expertise firm completely. The institution of the NFT division is important and complementary to the transformation. Look ahead, we’ll proceed the event in our enterprise and look ahead to rising our enterprise additional in the long run.”

About Meten Holding Group Ltd.

Meten Holding Group Ltd., previously often called Meten EdtechX Training Group Ltd., is an omnichannel coaching firm headquartered in China offering language and office coaching companies. Along with its coaching companies, Meten Holding Group actively develops metaverse, blockchain and cryptocurrency mining companies to align with its future enterprise growth technique. Meten Holding Group is dedicated to growing blockchain associated companies in North America, together with cryptocurrency mining, mining farm development, and mining pool and information middle operation. Meten Holding Group actively explores metaverse enterprise, equivalent to Metaverse vocational training programs, with its aggressive benefits and expertise.

For extra info, please go to: https://investor.metenedu-edtechx.com.

Protected Harbor Assertion

This announcement accommodates forward-looking statements that contain dangers and uncertainties. These statements are made underneath the “protected harbor” provisions of the U.S. Non-public Securities Litigation Reform Act of 1995. These forward-looking statements may be recognized by terminology equivalent to “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and comparable statements. Statements that aren’t historic information, together with statements concerning the Firm’s beliefs and expectations, are forward-looking statements. Quite a few components might trigger precise outcomes to vary materially from these contained in any forward-looking assertion, together with however not restricted to the next: the long run efficiency of Met Chain, the three way partnership firm; the long run growth of and the Firm’s means to reach its new line of digital forex enterprise; the persevering with affect of the COVID-19 pandemic and the emergence of latest variants; the Firm’s means to draw college students and not using a important lower in course charges; the Firm’s means to proceed to rent, practice and retain certified lecturers; the Firm’s means to keep up and improve our manufacturers; the Firm’s means to successfully and effectively handle the enlargement of the Firm’s faculty community and efficiently execute the Firm’s development technique; the result of ongoing, or any future, litigation or arbitration, together with these regarding copyright and different mental property rights; competitors within the English language coaching sector in China; modifications within the Firm’s revenues and sure value or expense objects as a proportion of the Firm’s revenues; the anticipated development of the Chinese language English language coaching and personal training market; Chinese language governmental insurance policies relating to personal academic companies and suppliers of such companies; well being epidemics and different outbreaks in China; and normal financial situations in China. The Firm doesn’t undertake any obligation to replace any forward-looking assertion, besides as required underneath relevant regulation. All info offered on this press launch and within the attachments is as of the date of this press launch, and the Firm undertakes no responsibility to replace such info, besides as required underneath relevant regulation.

For investor and media inquiries, please contact:

Ascent Investor Relations LLCTina Xiao+1 917-609-0333[email protected]

SOURCE Meten Holding Group Ltd.