The joint venture will engage in the R&D, production and sales of cryptocurrency mining equipment

SHENZHEN, China, Dec. 22, 2021 /PRNewswire/ — Meten Holding Group Ltd. (“Meten Holding Group” or the “Company”) (NASDAQ: METX), one of the leading omnichannel English language training (“ELT”) service providers in China, today announced that it had entered into an agreement (the “Agreement”) on December 20, 2021 with industry experts to establish a joint venture specializing in the research and development (“R&D”), production, and sales of cryptocurrency mining equipment.

The industry experts have extensive experience, diversified backgrounds, and proven track records in the cryptocurrency and blockchain industry. Mr. Zhijun Liu, Vice President of Hummingbird Mining Machine, is an expert in cryptocurrency mining and has rich resources and experience in the development and supply chain of cryptocurrency mining machines. Ms. Yunning Li, former Chief Marketing Officer of ChainPlus and Dragon Social in Hong Kong, has extensive practical experience in the blockchain industry and cross-border marketing and sales. Mr. Manning Liao, who graduated from the Chinese University of Hong Kong and previously worked for Dell and Hong Kong Satellite Television, has extensive experience in technology, knowledge and R&D of blockchain and cryptocurrency mining machines.

Pursuant to the Agreement, all parties agree to build a R&D team, establish an effective R&D mechanism, and intellectual property…