Huobi Asset Management and Top Value joins forces to launch blockchain storage mining fund

HONG KONG, April 27, 2022 /PRNewswire/ -- Huobi Technology Holdings Limited ("Huobi Tech" or the "Company", stock code: 1611.HK) is pleased to announce that its wholly-owned subsidiary Huobi Asset Management (Hong Kong) Limited ("Huobi AM"), launched an IPFS infrastructure mining fund, an important step in our Web 3.0 roadmap. This new fund product is currently available for professional investors only. Top Value Limited, a subsidiary of ChainUp Group, is the technical advisor for this project and will combine its experience and strengths to provide a professional mining fund technical strategy.

The newly-launched IPFS infrastructure mining fund (the "Fund") will look for interests in companies that are engaged in cryptocurrency mining activities and companies that support or facilitate the cryptocurrency mining ecosystem. This fund, one-of-a-kind in the industry, focuses on the end-to-end industrial chain for mining services. Following the launch of three virtual asset funds in April 2021, it is the latest fund launched to map out Huobi Tech's development within Web 3.0 and the overall virtual asset ecology.

With the rapid development and industry applications of AI, big data, and 5G, the demand for data storage has spurred an exponential growth of demand. As one of the important ecosystems of blockchain, distributed storage takes up the huge demand of data storage and requires many network nodes and distributed storage space. As a representative of blockchain distributed storage, Filecoin relies on IPFS technology and has designed reward mechanisms to encourage users to store data on the blockchain, namely Filecoin token.

The IPFS ecosystem continues to expand and bloom, especially the growing demand of instant storage, driving the demand for Filecoin and becoming a crucial foundation for Filecoin's value. As distributed storage plays a role as a core infrastructure component of Web 3.0, the market scale of Filecoin will reach hundreds of millions of users in the future. Global internet giants are testing the water as we see leading players stepping into this new territory. This would further increase the popularity of Filecoin and boost its investment value.

The cost and income of the Fund will depend on integration capabilities both upstream and downstream in the industry. The Fund has obvious advantages in cost control. A holistic risk control system has been established in terms of business, technology, compliance, crisis handling and financial management to ensure the safety and stability of the fund.

About Huobi AM

Established in 2019, Huobi AM is a wholly-owned subsidiary of Huobi Technology Holdings Limited ("Huobi Tech", HKEX Stock Code: 1611.HK) and holds the Type 4 (Advising on Securities) and Type 9 (Asset Management) licenses of the Hong Kong Securities and Futures Commission in 2020. Huobi AM is a new-era asset management institution that combines digital assets with traditional financial assets, providing customers with innovative products and services that represent cutting-edge investment concepts and making socially responsible investments with investors.

About Huobi Tech Holdings Limited

Huobi Technology Holdings Limited ("Huobi Tech", Stock Code: 1611.HK) was listed on the Main Board of the Stock Exchange of Hong Kong Limited in November 2016. Actively developing the blockchain ecosystem and virtual asset ecosystem, Huobi Tech is committed to becoming the leading one-stop compliant virtual asset service platform. Huobi Tech currently offers data centre services, cloud-based services, SaaS, virtual asset management, custody, trust & custody, OTC brokerage, lending, trading platform and other related services.

At the same time, Huobi Tech is applying for virtual asset and finance-related licenses in major markets around the world. Up to now, Huobi Tech's subsidiaries have successfully obtained the approval to conduct Type 4 (Advising on Securities) and Type 9 (Asset Management) regulated activities from the Securities and Futures Commission of Hong Kong, registered as a Trust Company in Hong Kong with the Trust or Company Service Provider License (Hong Kong) and the Retail Trust Company License (Nevada USA).

About Top Value

Top Value Limited is a digital asset management platform under the ChainUp Group and has extensive experience with mining investments and digital assets management. Its parent company, ChainUp, is a leading blockchain infrastructure technology provider with digital currency exchange white-label product offerings, mining technology services, and asset management. Its core management team is well-versed in both financial and technical experience, and has abundant legacy industry resources. Presently, the computing power of ChainUp's customers has exceeded 1000P, and ChainUp Group continues to be a top-tier leader in the IPFS ecosystem.