BitVentures Limited has entered the cryptocurrency mining sector, launching a new digital assets business less than two weeks after rebranding to reflect its new focus on blockchain-related ventures.
The Hong Kong–based technology company said it has acquired fleets of mining hardware from Bitmain, including three types of Antminer machines, to mine Bitcoin (BTC), Litecoin (LTC) and Dogecoin (DOGE), according to a Friday report from Investing.com.
The company said the acquisition includes 0.5 megawatts of power capacity across data centers in the United States, with deployment of the mining equipment expected later this month.
BitVentures described the mining operation as the foundation of a broader digital assets strategy and said it plans to expand into other areas of the sector, including staking and node operations, though it did not provide additional details.
Until December, BitVentures operated under the name Santech Holdings, trading on Nasdaq under the ticker STEC. The company officially rebranded to BitVentures and adopted the ticker BVC on Dec. 24, according to filings with the US Securities and Exchange Commission (SEC).
Before the rebrand, Santech functioned primarily as a technology-focused holding company, with business interests spanning early-stage technology investments, e-commerce platforms and consumer-focused digital services, rather than blockchain or cryptocurrency-related operations.
“The Company believes that the new name aligns well with the Company’s vision and focus on developing and investing in early-stage technology ventures,” the filing said.
Related: Most crypto treasuries ‘will disappear’ amid bleak 2026 outlook: Execs
A curious bet
BitVentures Limited is far from the only publicly listed company to pivot into digital assets in recent months, as more enterprises seek exposure to cryptocurrencies, often in an effort to revive struggling businesses or arrest prolonged share-price declines.
As Cointelegraph previously reported, biotech company 180 Life Sciences pivoted to an Ethereum treasury strategy last summer after its stock had fallen about 99%.
Other publicly traded companies that have adopted digital asset treasury strategies include nonbank lender Mill City Ventures, consumer products firm Upexi and agricultural technology company Nature’s Miracle.
BitVentures’ share price decline has been dramatic. The company’s lifetime return as a public issuer stands at approximately negative 89%, according to data from Yahoo Finance.
The company’s underlying financial performance helps explain the strategic pivot. During the first half of fiscal year 2025, BitVentures reported zero revenue, down from $17.4 million in the same period a year earlier, after exiting its asset management and wealth management business lines.
Related: After $400M splurge, ETH treasurer eyes stock buyback amid leverage concerns