On January 13, Mingcheng Group Holdings Limited (NASDAQ: MSW), a Hong Kong company mainly engaged in mud engineering, announced that its wholly-owned Hong Kong subsidiary, Lead Benefit (HK) Limited ("Lead Benefit"), purchased 500 bitcoins on January 9, 2025 at an average price of $94,375 per bitcoin, for a total investment of approximately $47 million. Mingcheng intends to use its idle funds to purchase bitcoin as a short-term investment to capture the potential appreciation of bitcoin and increase its assets. The company believes that the bitcoin market is highly liquid and bitcoin can be easily disposed of to fund the company's wet operation engineering business if needed.