AirNet Technology Inc (formerly known as AirMedia Group Inc), an in-flight solution provider on connectivity, entertainment and digital multimedia in China has entered into an investment agreement with Unistar Group Holdings.
The agreement will see Unistar deliver and transfer 500 computer servers specifically designed for mining cryptocurrencies in exchange for 23,876,308 ordinary shares from AirNet with a par value of US$0.001, per share.
Herman Guo, the Chairman and CEO of AirNet commented that AirNet “has recognised the needs to store and analyse data generated from the inflight connectivity business and the boom of the power of the blockchain technology as applied to the company’s use cases. With the acquisition of 500 computer servers specifically designed for mining cryptocurrencies, the agreement epitomises the company’s determination to create values for its investors along with its drive for technological innovations.”
