Breaking! Hong Kong stock big data leader transforms to mining, Ruihe Zhizhi collaborates with Bitmain, is the crypto circle about to change?
Hong Kong-listed company Ruihe Zhizhi recently announced a partnership with global mining giant Bitmain to enter the Bitcoin cloud mining sector through a 'cloud computing power service procurement' model, sparking heated discussions in the crypto and traditional financial circles. The transformation of this traditional big data service provider reflects the ambiguous attitude of the Hong Kong stock market towards crypto assets and may inject new momentum into the stagnant mining sector.
Traditional giants transform, crypto track becomes a new growth pole
Allowing compliant institutions to issue fiat currency-linked stablecoins and incorporating Bitcoin ETFs into the traditional financial system provides compliant pathways for traditional enterprises. Meanwhile, Chinese brokerage Guotai Junan International has been approved for a virtual asset trading license in Hong Kong, becoming the first Chinese institution able to trade mainstream cryptocurrencies like Bitcoin and Ethereum. Ruihe Zhizhi's entry confirms a 'cautiously optimistic' stance of the Hong Kong stock market towards crypto assets.
The mining landscape is changing, cloud mining may become mainstream
Ruihe Zhizhi's 'cloud computing power' model could reshape the mining ecosystem. Traditional mining requires heavy asset investment in mining machines, premises, and electricity, whereas cloud mining outsources hardware and operations, allowing companies to only pay for computing power service fees, lowering the entry barrier and potentially representing the future direction: using a light asset model to avoid cyclical risks.
Ruihe Zhizhi’s entry may bring two-fold effects:
Traditional enterprises layout crypto assets through compliant channels, which may attract more institutional funds, and the loosening of Hong Kong policies may become a 'springboard' for global capital allocation. The signal of compliance: participation of Hong Kong stock companies indicates that crypto assets are gradually being accepted by the mainstream, and Hong Kong is expected to become a 'testing ground' for global compliant innovation.
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