BTC Digital Ltd. (NASDAQ: BTCT), originally a leading provider of ELT services in China, held the top position in the country's comprehensive adult general English training market. The company boasted extensive omni-channel (online + offline) distribution channels and robust digital integration capabilities. However, it faced a precipitous decline in business across the entire industry due to the impact of the COVID-19 pandemic and China's "double reduction" policy.

Since 2021, under the guidance of its founder and amid numerous challenges, the company has actively ventured into blockchain business, gradually transforming into a blockchain technology company.

We are actively constructing a business system with a "one-body, two-wings" approach. The "one-body" represents computing power mining business, while the "two-wings" encompass encrypted asset management business and the production and sales of mining machines and related equipment. The goal is to become a leading metaverse technology company, with our mission being to connect the world and co-create the future.

• The company has currently deployed a substantial number of BTC mining machines in North America, all of which are Ant series machines (S19JPro, XP, etc.), with a total of 1954 units.
• This type of computing power mining business is currently the company's core business, and the majority of the funds from this financing round will be used for mining farm construction and continued purchase of mining machines.
• We plan to increase the number of deployed mining machines to 5,000 by the end of 2023 and further increase to 15,000 by the end of 2024 (excluding hosted mining machines).
• Simultaneously, after the completion of the self-operated mining farm construction, we will vigorously expand the hosted mining business, aiming for a 5:5 ratio between self-operated and hosted mining machines.
• The company's production and sales business of mining machines and related equipment is steadily expanding.
• We have a top-tier expert team in the industry, with strong advantages in the supply chain.
• The development of such business will help strengthen customer stickiness, perceive market changes, and form cooperative relationships across the entire industry chain.