AKIPRESS.COM - Hong Kong-based Lion Group Holding Ltd. announced  it signed a letter of intent with Hong Kong New Full Rich Ltd. on construction and operation of encrypted digital currency mine project in Tajikistan.

Lion Group Holding Ltd. is operator of an all-in-one trading platform that offers a wide spectrum of products and services and developer of new growth products that include SPAC sponsorship, NFT, and metaverse-related initiatives. New Full Rich specializes in the construction, development and operation of overseas digital mines and digital mining business.

The first phase of the project will focus on a free trade economic zone, establishing a 150,000-load mining site that incorporates industry licenses, energy loads, electricity prices and other relevant operating conditions, in addition to signing a sole protection agreement with the free trade economic development zone. The first phase of construction for the digital mine infrastructure and power-on operation is expected to be completed in the first quarter of 2022, and the project's annual profit is expected to be no less than US$25 million. In addition, the two groups will gradually promote the construction of a 300,000-load mine field for the second phase of the project.