CIIT and BTCT Enter into Cryptocurrency Mining Hosting Agreement

CIIT and BTCT have entered into a strategic agreement to host cryptocurrency mining machines, aiming to bolster CIIT’s digital computing power strategy. According to the announcement, BTCT, a cryptocurrency mining operations company based in Singapore, will provide professional hosting, deployment, and operations and maintenance support for the mining machines recently purchased by CIIT.

Tianci International, Inc. (CIIT), through its wholly owned subsidiary, has purchased cryptocurrency mining equipment to facilitate the settlement of trade operations conducted by the company and its subsidiaries. This move is part of CIIT's broader strategy to diversify its business portfolio and explore opportunities in the digital asset and computing infrastructure sectors. The hosting agreement with BTCT will enable CIIT to deploy and operate the equipment in the United States.

Shufang Gao, CEO of CIIT, stated, "Following the execution of the mining machine purchase agreement, we immediately began preparations for hosting and deployment. Our initial priority in working with BTCT is to ensure that the equipment is deployed smoothly and operates reliably, while using actual operating data to gain a clear understanding of hashrate, energy consumption, and costs."

The agreement builds upon CIIT's plans to enter the cryptocurrency mining business, which was disclosed in a Form 8-K filing with the U.S. Securities and Exchange Commission (SEC). The hosting arrangement with BTCT establishes a service framework for the deployment and operation of the equipment following delivery. The parties will proceed with deployment based on equipment delivery and site conditions, with stable operations serving as the basis for subsequent operational evaluation.

CIIT and BTCT plan to explore further cooperation in computing power expansion. According to the agreement, BTCT will provide hosting facilities, electricity, network connectivity, environmental controls, security, technical support, and installation and testing services. The hosting will be based on the initial batch of equipment, with the goal of evaluating additional hosting capacity and opportunities for further technical and operational cooperation.

Future deployment and expansion of computing capacity are key focuses for CIIT. The company plans to deepen its cooperation with BTCT based on the existing hosting arrangement and to evaluate potential follow-on arrangements relating to the deployment of additional mining machines, hosting capacity, equipment operations and maintenance, energy efficiency optimization, and operational monitoring. CIIT will also consider alternative hosting locations, power arrangements, and cooperation models to reduce the risks associated with operational concentration.

The press release notes that CIIT's wholly owned subsidiary, Roshing, provides global logistics services, specializing in ocean freight forwarding, container and bulk goods shipping. Operating under an asset-light model, Roshing's logistics solutions are tailored to meet the diverse needs of its customers across the Asia-Pacific Region, including Japan, South Korea, and Vietnam. In the past year, Roshing has initiated expansion into global trade of minerals and generates revenue from the sale of electronic parts and business consulting services.

CIIT has disclosed plans to further broaden its business portfolio and explore opportunities in the digital asset and computing infrastructure sectors. The agreement with BTCT is a significant step in this direction, as it positions CIIT to leverage BTCT's expertise in cryptocurrency mining operations and infrastructure.