DL Holdings Group Limited has partnered with Fortune Peak Limited to expand into Bitcoin mining, marking the first critical movement into digital asset infrastructure.
The Hong Kong-listed company will issue convertible bonds to fund the purchase of highly efficient mining equipment. The goal is to produce around 200 BTC per year and build more than 4,000 BTC reserves within the next two years.
DL Holdings outlines Bitcoin mining strategies
Hong Kong-based DL Holdings Group Limited said it will work with Fortune Peak Limited to enter the Bitcoin mining sector. The company plans to acquire advanced mining equipment via convertible bond issuances. It aims to become Hong Kong’s first listed Bitcoin hashrate stock. DL Holdings projects an annual production volume of approximately 200 btc. The company plans to build more than 4,000 BTC reserves over two years.
The controlling shareholders of Fortune Peak, former Chief Investment Officer of Antalpha Capital, bring digital assets operation and technology experience. This partnership provides DL-holding access to new mining hardware and operational expertise.
Convertible debt funding mining expansion
DL Holdings purchases the 2,200 S21XP HYD miner with an estimated hashrate of 1,040,600 Th/s. The company will fund a $21.85 million transaction by issuing zero coupon convertible bonds. The initial conversion price is $3.17 ($0.41) per share. This represents a discount of approximately 8.65% on the average five-day closing price. Bonds and stocks issued at the time of conversion are subject to a two-year lockup.
The company will also issue 40 million warrants at a strike price of HK$3.80 ($0.49) per share, with a premium of around 9.51% from the five-day average. Half of the warrant stock has a six-month lockup. Up to 13.44 million earning shares may be issued if performance targets are met.
Bitcoin Market Context and Institutional Interest
Bitcoin accounts for approximately 55% to 58% of the total mayor of crypto market capitalization, and is estimated to have a market value of around $2.29 trillion as of September 2025. Governments, including the US and the UK, offer Bitcoin Exchange-Tradeds with prominent holdings and asset managers such as BlackRock and Fidelity.
DL Holdings said direct Bitcoin mining can diversify the balance sheet and provide repeat revenue. Management estimates that new equipment can generate around 200 btc a year, which could generate around $20 million in revenue in an example. The company also raised more than $83.5 million in August 2025 to fund digital finance initiatives such as tokenized assets and virtual asset trading services.
PostDL Holdings, which enters Bitcoin mining through a Convertible Bond transaction, first appeared on Beincrypto.
