Core Viewpoint - China Green Agriculture, Inc. is expanding into the cryptocurrency sector through the acquisition of Lonestar Dream Inc. for $49 million, marking a strategic shift in its business model [1][2][6]. Group 1: Acquisition Details - The acquisition of Lonestar Dream is structured as a stock purchase agreement with a total purchase price of $49 million, funded in three installments [2]. - The shares of Lonestar Dream have been transferred and registered under the name of China Green Agriculture [2]. Group 2: Lonestar Dream's Operations - Lonestar Dream, founded in September 2021, has secured a power lock-in contract for 600 Megawatts (MW) across two sites, with the first phase of 100 MW energized in August 2022 [3]. - The company plans to deliver an additional 500 MW by 2026 and has diversified into self-mining and hosting services, utilizing advanced mining technologies [3][4]. Group 3: Future Expansion Plans - Lonestar Dream aims to establish its first Energy Industrial Park by the end of 2024, focusing on energy infrastructure to support emerging technologies like artificial intelligence [4]. - The company is integrating renewable energy into its expansion plans, including ventures into battery energy storage and solar energy [5]. Group 4: Strategic Significance - The acquisition is viewed as a strategic milestone for China Green Agriculture, enabling it to leverage Lonestar Dream's expertise and infrastructure in the cryptocurrency and energy sectors [6]. - The management team of Lonestar Dream, along with its extensive product pipeline and customer base, are considered key assets for China Green Agriculture's growth in the cryptocurrency industry [6][7].
China Green Agriculture, Inc. Forges Ahead into Cryptocurrency and Energy Sectors with Acquisition of Lonestar Dream Inc.