Meten Holding Group Is Building A New Crypto Mining Project
Meten Holding Group Ltd. – an English-language training program used regularly in China – has joined a panel of experts to establish a whole new bitcoin mining and research firm.
Meten Holding Is Building Its Own Mining Firm
The new company will study, build, and sell mining equipment. Among the industry experts that are helping Meten create its new line of business are Mr. Zhijun Liu, VP of Hummingbird Mining Machine, a crypto mining enterprise; Yunning Li, the former chief marketing officer of Chain Plus and Dragon Social in Hong Kong; and Manning Liao, a graduate of the Chinese University of Hong Kong and a former employee of Dell and Hong Kong Satellite Television.
Alan Peng – chief executive officer of Meten Holding Group – explained in an interview:
We are delighted with this joint venture that fits the strategy for our new blockchain and cryptocurrency business line. We believe that the cryptocurrency and blockchain industry expertise brought by Mr. Zhijun Liu, Ms. Yunning Li, and Mr. Manning Liao will be highly complementary to our new business. We believe this joint venture will enable the company not only to have a complete R&D, manufacturing, and sales capabilities of mining equipment, but also to consolidate and expand its foundation in the mining and blockchain industry. We intend to make significant investments in R&D, technology, and equipment through this joint venture. By the first quarter of next year, we expect to see initial results as a result of the company’s exploration of the metaverse business, and we expect that our cryptocurrency and mining machine business will start generating revenue. Meanwhile, the company is also actively preparing and promoting its new line of business in the metaverse-related education fields. We expect the joint venture to add to the company’s planned growth in new businesses such as metaverse, blockchain, and cryptocurrency.
Bitcoin and crypto mining have experienced a bad rap over the past year or so, primarily because there are many environmentalists out there convinced that they somehow contribute to the death of the planet. This is an argument that has emerged from famous figures like Elon Musk of Tesla and SpaceX fame and even Kevin O’Leary from “Shark Tank.”
Initially, Elon Musk had decided that customers could buy Tesla vehicles with bitcoin, though he later rescinded this decision after claiming that bitcoin miners were not using their energy correctly and were not controlling their emissions.
Language and Mining… An Odd Match
Kevin O’Leary also chimed in, saying that he would no longer be purchasing any bitcoin mined in China given that the country did not employ environmentally friendly extraction processes.
Meten Holding is one of the leading English-language training programs in China. It delivers English-language training services to both business professionals and to students. It also explores blockchain and cryptocurrency mining services outside of China’s borders.
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