China Green Agriculture Finalizes Acquisition Of Lonestar Dream
China Green Agriculture, Inc. has acquired Lonestar Dream Inc., a bitcoin mining company, for $49 million. The acquisition is part of CGA’s dual-business development strategy, aiming to diversify its operations.
Lonestar Dream, established in September 2021, has secured a 600 Megawatt power contract and plans to bring an additional 500 MW online by 2026. The company’s in-house developed immersion cooling system for bitcoin mining, pending a U.S. patent, demonstrates its commitment to innovation and efficiency.
Lonestar Dream plans to establish its first Energy Industrial Park by the end of 2024, focusing on integrating energy infrastructure with cryptocurrency mining and expanding into renewable energy sources. The funding was arranged in three installments, with shares transferred to CGA.
(With inputs from Shikha Singh)
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