TLDR
- BitVentures secured 0.5 MW power for mining in US data centers.
- The company acquired Antminer rigs to mine BTC, LTC, and DOGE.
- BitVentures rebranded from Santech and changed ticker to BVC.
- It reported zero revenue in H1 FY2025 after exiting asset management.
BitVentures Limited has started its first cryptocurrency mining operations in the United States, just two weeks after rebranding from Santech Holdings. The company, which now trades under the ticker BVC on Nasdaq, has entered the blockchain sector after years of weak financial performance.
The Hong Kong-based firm has acquired mining hardware from Bitmain, including three types of Antminer machines. The company plans to mine Bitcoin (BTC), Litecoin (LTC), and Dogecoin (DOGE), with operations set to begin in January. BitVentures has secured 0.5 megawatts of power capacity across U.S.-based data centers for this purpose.
Broader Digital Asset Strategy Planned
BitVentures views its new mining operations as the first step in a broader digital assets plan. The company stated that it intends to expand into areas like staking and running blockchain nodes in the future. However, it has not shared specific details or timelines for these developments.
Before December 2025, BitVentures was known as Santech Holdings and operated as a holding company with technology and e-commerce interests. The name change and ticker switch were filed with the U.S. Securities and Exchange Commission on December 24. According to a company filing, “The Company believes that the new name aligns well with the Company’s vision and focus on developing and investing in early-stage technology ventures.”
Shift Comes After Financial Decline
The decision to pivot toward digital assets follows a period of poor financial results and a sharp drop in share price. For the first half of fiscal year 2025, the company reported zero revenue. This is a major drop compared to the $17.4 million it reported during the same period the previous year.
This revenue decline is tied to the company’s decision to exit the asset and wealth management sectors. Since going public, the firm’s total return has fallen by nearly 89%, according to Yahoo Finance data. The company’s stock saw a 6% rise on Friday but remains far below its historical highs.
Industry Trend Among Struggling Public Firms
BitVentures is not alone in turning to crypto during times of business decline. Several other publicly listed companies have recently adopted digital asset strategies. These include biotech firm 180 Life Sciences, which switched to an Ethereum-based treasury strategy after its stock plummeted, and Mill City Ventures, which also moved into crypto.
Others, like Upexi and Nature’s Miracle, have looked to blockchain and cryptocurrency as new revenue streams. These firms are often seeking ways to offset long-standing business challenges or low investor confidence.
BitVentures’ move into crypto comes at a time when many companies are exploring blockchain to diversify their business models and seek new sources of revenue.
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