FingerMotion acquires Newbit Technology for $2.3M, gains 9.9 MW crypto mining capacity
FingerMotion has signed a definitive agreement to acquire 100% of Newbit Technology Inc. for $2.3 million cash, securing a 9.9 MW powered mining facility in County of Newell with closing targeted by October 29, 2026.
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What happened
FingerMotion entered into a definitive share purchase agreement to acquire Newbit Technology on a cash-free, debt-free basis for US$2.3 million. The acquisition includes the Brooks Campus #1 facility with 9.9 MW of power capacity. Closing is targeted on or before October 29, 2026.
Why it matters
The acquisition expands FingerMotion's operational mining capacity and power infrastructure, directly increasing hashrate production and revenue-generating assets. At $2.3 million for 9.9 MW, the per-megawatt acquisition cost signals management's capital allocation toward organic capacity growth rather than organic build-out, reducing time-to-production risk.
Market transmission
Incremental mining capacity translates to higher operational revenue and cash generation from block rewards and transaction fees. Secured power supply reduces future capex volatility and operational risk. Improved asset base may support higher leverage capacity and lower cost of capital if debt financing is pursued for future expansion.
What to watch
Confirmation of October 29 closing; actual power utilization rates post-acquisition; integration costs and downtime; any regulatory or permitting delays in County of Newell; management guidance on incremental hashrate contribution and payback timeline.
Sources:GlobeNewswire USGlobeNewswire France
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