Code Chain New Continent Announces LOI to Acquire Filecoin Mining Assets
Code Chain New Continent Limited, a leading eco-technology company, announced that it entered into a non-binding letter of intent with Shenzhen Jindeniu Electronics Limited.
Pursuant to the LOI, Code Chain agrees to purchase certain assets, including Filecoin servers, FIL digital currency PiB computing power, and FIL digital currency from Jindeniu. The total purchase price will be approximately USD 15.9 million, payable in cash.
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Following the LOI’s execution, Code Chain will arrange its personnel, representatives, and advisors to perform due diligence on the Target Assets. Upon completion of the due diligence and the Company’s satisfaction of the results, the two parties will enter into a definitive assets purchase agreement within five days. The definitive assets purchase agreement’s execution shall be no later than December 31, 2021.
David (Weidong) Feng, Co-CEO of the Company, stated, “The LOI marks an important step for Code Chain’s Filecoin success. We are excited to continue our efforts in expanding our Filecoin footprint after acquiring China’s Filecoin miner. Filecoin is the native token of the Filecoin Network, a decentralized data-sharing platform that offers a thriving ecosystem of independent storage providers while eliminating barriers. I am confident that this will become the major trend for the industry, and Code Chain is placing itself ahead of the competition.”