Ming Shing Group Purchases 333 Bitcoin for $27M
Hong Kong-based Ming Shing Group Holdings Limited has made a grand foray into digital assets with the acquisition of 333 Bitcoin worth approximately $27 million. The acquisition, via its subsidiary Lead Benefit Limited, was at an average price of $81,555 per BTC on February 28, 2025.
Bitcoin as a Liquid Reserve Asset
Ming Shing, primarily known for providing wet trades works services such as plastering, tiling, and masonry, perceives Bitcoin as a liquid reserve asset. The company aims to invest its surplus cash to ride on the potential price appreciation of Bitcoin with the liquidity to sell holdings to cover operating needs.
A Growing Trend in Corporate Bitcoin Adoption
The move is also part of an overall trend among public companies moving into Bitcoin as a diversification treasury holding. While big corporations like MicroStrategy and Tesla have been making news with their giant wagers on Bitcoin, smaller public companies—particularly those that are not technology companies—are also moving into digital assets.
Strategic Vision for Growth
Ming Shing’s executive director, Wenjin Li, highlighted that this action falls in line with the company’s shareholder value-building strategy and pursuit of new growth opportunities. As institutional investors increasingly adopt the use of Bitcoin, Ming Shing’s investment demonstrates the growing application of digital assets by companies in corporate treasury management.
As other businesses outside the technology sector start to include Bitcoin, this acquisition can be a sign of a growing trend of cryptocurrency investments in traditional industries.
