The Publicly Traded Construction Company Buying Bitcoin

January 14, 2025

•

x min read

Mentioned:

One of the leading construction companies in Hong Kong is buying something new: Bitcoin.

‍What’s happening:‍

Hong Kong based construction company Ming Shing Group Holdings (NASDAQ: MSW) has announced they have purchased Bitcoin to hold directly as an asset for the first time ever

By the numbers:‍

Ming Shing Group Holdings purchased 500 Bitcoin for approximately $47M USD
Ming Shing Group Holdings average cost basis is $94,375 USD per Bitcoin

Why it matters:‍

Publicly listed companies buying Bitcoin has been an unstoppable trend of late, which has been largely led by massive purchases from companies such as MicroStrategy (NASDAQ: MSTR) and Riot Platforms (NASDAQ: RIOT)

Going deeper:‍

Ming Shing Group Holdings primary business is focused on plastering, tile laying and brick works for projects located within Hong Kong

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