The Meten Holding Group, is a China based training company that offers language and workplace training. Originally known as Meten EdtechX Education Group Ltd., it is now working on developing its blockchain and cryptocurrency mining division. It also has plans to expand into the metaverse. Meten has a great deal of infrastructure related to cryptocurrency mining, mining farm construction, mining pool operations, and data centers in North America. The company recently provided an update on its Met Chain unit, responsible for its mining business.. Met Chain was formed as a join venture to manufacture and sell mining equipment.
Met Chain’s R&D team developed its proprietary Apaqi High-Performance Server Acceleration Card (“Acceleration Card”), which can be installed into the motherboard of a mining machine to improve its computing power, through continuous efforts. With the launch of the Acceleration Card, Met Chain believes it can successfully compete in the global server market, which is currently valued at over US$100 million.
Meten Holding Chairman Announces Third-Party Integration & Server Acceleration Cards Valued $10 Million RMB
Met Chain tested the Acceleration Card internally on its mining machines and received satisfactory results. A third-party has agreed to purchase Acceleration Cards with a total value of no less than RMB10 million within one year of the date of the strategic cooperation agreement, subject to certain conditions specified in the agreement. Met Chain is preparing to mass produce the Acceleration Card and has entered into a strategic cooperation agreement with that third party. Meten believes that Met Chain’s Acceleration Card will increase its competitive strength in the cryptocurrency industry as Met Chain looks to find additional cryptocurrency mining equipment buyers.
Meten Holding Group Chairman Jason Zhao commented, “We are more than delighted to see the debut of the Acceleration Card developed by Met Chain’s R&D team. The Acceleration Card stands as our first achievement since establishing Met Chain and adds value to our business strategy in blockchain and cryptocurrency. We believe that this further reflects the value of our initial investments in R&D, technology, and equipment and will support the Company’s planned growth in its new businesses. We would not have achieved such thrilling breakthroughs without the hard work of the brilliant Met Chain’s R&D team. This is only the first step in our exploration of the cryptocurrency and mining machine business. We will continue to improve our products and services and expand the market in this industry.”