The development comes as the Bitcoin rally continues, with the asset hitting a new all-time high of $58,300. The surge has been motivated by institutional investments and crypto adoption by leading entities. The statement adds that the Bitcoin payments will be at the rate applicable during the payment date. Sino-Global CEO Lei Cao notes that the company is leveraging Bitcoin’s rising popularity as a payment option. Following the development, Sino-Global stock was up by 10.37% in the last 24 hours by the time of writing.
Sino-Global increasing crypto involvement
Before accepting Bitcoin payment, the American firm has been increasingly participating in the cryptocurrency sector. After signing a Letter of Intent (LOI), the company plans to get into cryptocurrency mining to acquire 51% of Inner Mongolia Nine-Chain Intelligent. Currently, Nine-Chain Intelligent’s computing power center has about 150,000 KW/hour capacity for Bitcoin mining. Furthermore, the center hosts 50,000 KW/hour capacity for Ethereum mining. Commenting on the deal, Cao noted that: Furthermore, in February, Sino-Global reached a deal with the e-commerce blockchain company CyberMiles Foundation. The partnership aims to explore opportunities using the non-fungible token (NFT) CRC-721 protocol to enable enterprises, institutions, and individuals to issue and trade NFTs on CyberMiles’ public blockchain.
