Ming Shing Group Holdings Limited, a Hong Kong-based construction company, has taken a significant step into the world of digital assets by adding bitcoin to its corporate treasury. The company has agreed to acquire 4,250 bitcoins, worth nearly $483 million, as part of its new strategy to hold cryptocurrency on its balance sheet.

The move marks Ming Shing’s first entry into bitcoin investment and signals a growing trend among Asian firms that are looking beyond traditional assets to strengthen liquidity and long-term value.

Details of the Acquisition

Ming Shing, which trades on NASDAQ under the ticker MSW, signed a purchase agreement with Winning Mission Group Limited to buy 4,250 bitcoins. The deal values each bitcoin at an average price of $113,638, with the entire purchase totalling about $482.96 million.

The company expects the transaction to close by 31 December 2025. Instead of paying in cash, Ming Shing will settle the deal through a mix of convertible promissory notes and share warrants. These financial instruments allow the sellers to convert debt into shares or purchase shares at a fixed price in the future.

Role of Rich Plenty Investment

As part of the agreement, Ming Shing assigned 50% of the transaction to Rich Plenty Investment Limited. This means Rich Plenty will hold rights to 2,125 bitcoins, equal to half the value of the deal. In exchange, Rich Plenty issued a promissory note of the same amount back to Ming Shing.

After this adjustment, both the original seller and Rich Plenty will receive convertible notes and warrants from Ming Shing. Each party will have the right to acquire up to 201.2 million ordinary shares of the company.

Terms of Notes and Warrants

The convertible promissory notes issued by Ming Shing carry a 3% annual interest rate and have a maturity period of ten years. Importantly, the holders can convert these notes into ordinary shares at a price of $1.20 per share. However, there is a cap in place to prevent any single investor from holding more than 4.99% of the company’s total outstanding shares.

The warrants, on the other hand, give holders the right to purchase up to 201.2 million shares at $1.25 each over the next 12 years. Both the notes and warrants are exempt from U.S. securities registration and include the same ownership restrictions.

Strategic Move Towards Bitcoin

Ming Shing’s chief executive officer, Wenjin Li, said the acquisition represents a milestone in the company’s strategy. By holding bitcoin in its treasury, Ming Shing hopes to improve liquidity while also benefiting from the potential price appreciation of the cryptocurrency.

“We expect this acquisition to expand our digital asset holdings,” Li stated. “It also lets us take advantage of bitcoin’s liquidity and its potential price growth. This is a big step for us into a bitcoin treasury strategy.”

Growing Trend Among Asian Firms

Ming Shing’s decision is part of a broader movement among Asian companies that are not directly linked to the financial or tech sectors but are beginning to explore bitcoin as a store of value. For many firms, the aim is to diversify their assets, hedge against inflation, and prepare for a future where digital currencies play a greater role in the global economy.

The deal highlights the growing acceptance of bitcoin in corporate treasuries worldwide. While U.S. firms like MicroStrategy and Tesla made headlines for their bitcoin holdings, Asian corporations are now beginning to follow suit, signalling a shift in market behaviour.

Ming Shing Group Holdings’ $483 million bitcoin acquisition is not just a large-scale purchase but a strategic decision to bring digital assets into its corporate structure. Through a carefully structured deal involving promissory notes and warrants, the company has managed to secure exposure to bitcoin without direct cash outflow.

As more companies across Asia start to consider bitcoin treasury strategies, Ming Shing’s move may prove to be a defining moment in how traditional industries embrace the digital asset revolution.