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EcoHash announces the latest company developments: completed a $10.5 million investment closing and established a wholly-owned subsidiary in Dallas to manage AI business
Mars Finance reports that EcoHash has announced the latest company developments, including institutional financing and management share purchases. Key points include: Management and institutional funding: The company has completed a $10.5 million investment transaction from EWCL. Additionally, Chairman Xin Jin and Director Chang-Wei Chiu have signed agreements to plan an additional $65 million in personal investments. EcoHash US subsidiary established: The company has set up a wholly-owned subsidiary, EcoHash Technology LLC, in Dallas, serving as the global engine for AI operations. Meanwhile, Jack Jin, former head of Zoom infrastructure, has been appointed CTO to build the technical foundation for managing large-scale GPU clusters. Deleveraging and accumulation: By adjusting some BTC holdings to repay collateralized loans, the company has significantly strengthened its balance sheet. Securing transformation resources: Part of the static assets have been converted into liquid funds. Along with this new financing, the company ensures ongoing funding during the transition, fully supporting R&D for AI computing infrastructure and software orchestration platforms.