Intchains Group Limited Announces Updates to Its ETH Transaction and Holdings by Investing.com
SHANGHAI, China, Nov. 29, 2024 (GLOBE NEWSWIRE) — Intchains Group Limited (Nasdaq: ICG) (we, or the Company), an altcoin development company that specializes in providing integrated solutions that include high-performance computing ASIC chip products for altcoins, and and holding cryptocurrencies based on ETH as its long term. warehousing to support its Web3 industry development plans including actively developing Web3-based applications, today announces updates to its ETH and hosting operations.
During the period between September 30, 2024 and November 28, 2024, the Company received approximately 915.3 ETH for approximately RMB20.7 million (US$2.9 million) in average currency, with an average price of approximately RMB22,626 (US$3,123) per ETH, including fees and charges. ETH purchases are made using our income.
As of November 28, 2024, the Company, together with its subsidiaries, holds a total of approximately 5,066.6 ETHs, obtained at an aggregate purchase price of approximately RMB107.0 million ($14.8 million) and an estimated purchase price of approximately RMB21. ,117 (US$2,914) per ETH, including fees and charges.
About Intchains Group Limited
Intchains Group Limited is an altcoins development company focused on providing integrated solutions that include high performance ASIC chip products for altcoins, as well as acquiring and holding ETH-based cryptocurrencies as long-term storage to support its development plans for the altcoin industry. Web3 incl. actively developing Web3-based applications. For more information, please visit the Company’s website at:
Exchange Rate Information
The unaudited United States dollar (US$) amounts disclosed in the financial statements accompanying this article are presented for the benefit of readers only. The translation of values from RMB to US$ for the benefit of the reader is calculated at the daily exchange rate of US$1.00=RMB7.2455 on November 22, 2024. No representation is made that RMB values are, or could be, converted to US$ at the rate such
Forward-Looking Statements
Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and assumptions about future events that the Company believes may affect its financial condition, results of operations, business strategy and financing needs. Forward-looking statements include, but are not limited to, statements about: (i) our objectives and strategies; (ii) our future business development, status and results of operations; (iii) anticipated changes in our revenues, costs or expenses; (iv) growth and competitive trends in our industry; (v) our expectations regarding demand for, and market acceptance of, our products; (vi) general economic and business conditions in the markets in which we operate; (vii) relevant government policies and regulations relating to our business and industry; (viii) fluctuations in the market price of ETH-based cryptocurrencies; gains or losses from the sale of ETH-based cryptocurrencies; changes in the financial management of the Company’s ETH-based cryptocurrencies Holdings; decreased liquidity in markets where ETH-based cryptocurrencies are traded; security breach, cyberattack, unauthorized access, loss of private keys, fraud, or other events resulting in the loss of the Company’s ETH-based funds; impacts on the price and adoption rate of ETH-based cryptocurrencies related to financial difficulties and bankruptcies of various industry participants; and (viii) assumptions underlying or relating to any of the foregoing. Investors may identify these forward-looking statements by words or phrases such as, may, should, expect, plan, intend, anticipate, believe, estimate, predict, may, project or continue or the negative of these terms or other similar terms. The Company undertakes no obligation to update or publicly revise any forward-looking statements to reflect subsequent events or conditions, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot guarantee that such expectations will prove to be accurate, and the Company warns investors that actual results may differ materially from the expected results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and other filed with the SEC.
For investor and media inquiries, please contact:
Company Intchains Group Limited
Investor relations email: ir@intchains.com
Redhill – Belinda Chan
Phone: +852-9379-304
Email: IntchainsIR@redhill.asia
Source: Intchains Group Limited
