Benzinga | Jan 27, 2022 08:23AM EST

AirNet Announces Purchase Of Cryptocurrency Mining Machines And Lease Of Office Space In The U.S.

AirNet Technology Inc., formerly known as AirMedia Group Inc. ("AirNet" or the "Company") (NASDAQ:ANTE), today announced the entry into an equipment purchase agreement for the purchase of 4,800 Bitmain Antminer S-19 XP miners with an intended delivery in equal monthly installments of 800 units in the second half of 2022 in the United States. The aggregate purchase price for these miners is approximately US$60 million (subject to potential adjustments based on the hash rate of the delivered units), for which the Company's business partner, Foundry Digital LLC will provide financing through its Foundry X.

To accommodate its increasing scale of operations in the United States, the Company entered into a lease agreement for a term of three years, pursuant to which the Company agreed to lease approximately four acres of land including approximately 22,603 square feet of office space in Houston, Texas.