Ming Shing Group buys Bitcoin for about $27 million, signaling the construction company’s move into digital assets.
For about $27 million, Hong Kong-based Ming Shing Group Holdings Limited bought 333 Bitcoin, signaling the construction company’s move into digital assets. On February 28, 2025, the acquisition was completed through its subsidiary, Lead Benefit Limited, at an average price of $81,555 per Bitcoin.
Bitcoin is viewed as a liquid reserve asset by Ming Shing, a company specializing in wet trades work services, such as masonry, tiling, and plastering.
According to the company, it plans to use idle funds to profit from Bitcoin’s possible growth while keeping the option to sell holdings to meet operational requirements.
Ming Shing Group Buys Bitcoin Through Its Hong Kong Subsidiary
Ming Shing Holdings reported that on February 28, 2025, its wholly-owned Hong Kong subsidiary, Lead Benefit (HK) Limited, invested roughly US$27 million to buy 333 Bitcoins at an average price of US$81,555 each. On December 23, 2024, Lead Benefit was incorporated, and its only shareholder is Lead Benefit International Limited.
Ming Shing is the only shareholder of Lead Benefit International Limited, a BVI business established on December 9, 2024. To exploit Bitcoin’s potential growth and expand its holdings, Ming Shing plans to use its excess cash to buy Bitcoins as a short-term investment. The business believes that the Bitcoin market is very liquid and that it is simple to sell Bitcoins to finance its wet trade operations, if necessary.
Additional Bitcoin reserves
This action aligns with a growing trend of publicly traded companies diversifying into alternative treasury assets, such as Bitcoin. Even though well-known companies like Tesla and MicroStrategy have bought Bitcoin, smaller publicly traded businesses, especially those in non-tech industries, are increasingly looking into digital assets.
Wenjin Li, the director of Ming Shing, stressed that the choice is consistent with the company’s plan to increase shareholder value and look for new growth prospects.
