Mercurity Fintech Holding Inc. operates as a fintech company.
Business Consultation Services
The company provides comprehensive business consultation services and industry resource support to global corporate clients based on the resource advantages it has accumulated over the years. The company also assists corporate clients in the Asia Pacific region in developing business in the United States, such as helping the clients improve operations and compliance, achieving market entry and expansio...
Mercurity Fintech Holding Inc. operates as a fintech company.
Business Consultation Services
The company provides comprehensive business consultation services and industry resource support to global corporate clients based on the resource advantages it has accumulated over the years. The company also assists corporate clients in the Asia Pacific region in developing business in the United States, such as helping the clients improve operations and compliance, achieving market entry and expansion, introducing and coordinating professional service institutions.
Target Customers or Clients: The company’s Business consultation services mainly serves clients from Greater China, Southeast Asia, and North America (Canada, the United States, Mexico).
Fee Structure: The company’s general fee structure is composed of cash payment and/or bonus shares upon reaching certain milestones or meeting certain performance requirements.
Location: The company’s Business consultation services will be based in its offices in Shenzhen, Hong Kong and New York, covering Greater China, Southeast Asia and North America.
On August 1, 2023, the company signed a supplementary comprehensive service agreement with the same Chinese media company, pursuant to which the company continued to assist the client in providing management consulting services and introducing professional service agency resources.
On November 1, 2023, the company signed a consulting agreement with an American logistics company. The company will serve as a business consultant in order to facilitate introductions between the company’s clients and third-party audit firms, legal representatives, and underwriting entities that are crucial for the clients’ fundraising endeavors within the U.S. capital market.
The company is establishing its Asia Business consultation services team in Hong Kong and Shenzhen, and it seeks to acquire more new clients in the Asia Pacific region and provide better services to these clients. The company is in advance negotiations with several Asian clients to provide them with comprehensive business consulting to enter the U.S. market. It is expected that it will reach agreements and sign contracts with one or two clients in the first half of 2024.
Financial Advisory Services and Brokerage Services
Target Customers or Clients: The company’s financial advisory services and brokerage services business mainly targets clients from Greater China, Southeast Asia, and North America (Canada, the United States, Mexico).
Fee Structure: The company’s fees are generally payable by the client by tranches upon reaching certain project milestones, such as upon first filing with the relevant regulator or upon completion of a project.
Location: Financial advisory services and brokerage services will be based in the company’s offices in Shenzhen, Hong Kong and New York, covering Greater China, Southeast Asia and North America, respectively.
Milestones or Timetables: The company’s fees are generally payable by the client by tranches upon reaching certain project milestones, such as upon first filing with the relevant regulator or upon completion of a project.
Financial Advisory Services
The company’s financial advisory services will focus on providing comprehensive financial services to corporate clients in emerging countries and regions planning to enter the U.S. capital markets, such as providing capital operation plans, private equity financing services, investment consulting services, and mergers and acquisitions services to the clients.
The company’s financial advisory services will be based in its offices in Shenzhen, Hong Kong and New York, covering Greater China, Southeast Asia and North America, respectively. The company already has a financial advisory service team in New York, and it is establishing its Asian financial advisory service teams in Hong Kong and Shenzhen to seek more new clients in the Asia Pacific region and provides better services for these clients in the future.
Brokerage Services
In addition to its financial advisory business, the company may make securities underwriting an important part of its brokerage services business, in order to provide more comprehensive financial services for its corporate clients. The company will decide whether to carry out other brokerage services, such as securities brokerage and asset management based on the company’s future business development.
The company’s brokerage services will mainly be located in its New York office, serving clients in Greater China, Southeast Asia, and North America. The company will also promote its brokerage services to clients through its offices in Hong Kong and Shenzhen. It should be emphasized that the company’s financial advisory services and brokerage services (securities underwriting and other brokerage services) can only be carried out after it has completed the acquisition of J.V. Delaney & Associates and obtained the financial license and FINRA approval required for brokerage services business.
Distributed Computing and Storage Services
The company’s distributed storage and computing services business includes cryptocurrency mining and cloud storage services for other distributed application product operators.
In 2021, the company added cryptocurrency mining as one of its main businesses. Cryptocurrency mining is part of its distributed computing and storage services business.
From October 2021 to April 2022, the company obtained the usage rights of a certain number and specific models of Bitcoin mining machines and specific business premises by executing contracts with the sharing mining service provider, and registered as users on the mining pool website, complying with the general terms and conditions required to join the mining pool published on the mining pool website, to increase computing power to the mining pool. In exchange for providing computing power, the company is entitled to a fractional share of the fixed digital asset awards the mining pool operator receives, for successfully adding blocks to the blockchain. The company’s fractional share is relative to the proportion of computing power it contributes to the mining pool operator toward the total computing power contributed by all mining pool participants in solving the current algorithm. Providing computing power in digital asset transaction verification services is an output of its ordinary activities. The provision of such computing power is the only performance obligation in the general terms of the mining pool website.
On December 5, 2023, the company signed an Origin Storage Filecoin Mining Service Contract with Origin Storage PTE. LTD. (Origin Storage). The company have used Origin Storage’s technology to re package the Web3 decentralized storage infrastructure and conduct Filecoin mining business through Origin Storage’s network platform. The Filecoin mining services provided by Origin Storage include storage server services, computing encapsulation server services, and technical services.
In January 2024, the company repackaged its Web3 decentralized storage infrastructure for Filecoin mining using new technology provided by Origin Storage and began running two new Filecoin mining nodes.
Business Consultation Services
The company’s business consultation services mainly serves clients from Greater China, Southeast Asia, and North America. As of December 31, 2023, the company had obtained two clients, one from China and the other from the United States. The company has plans to invest more into promotion and brand awareness to attract more clients in the future.
Financial Advisory Services and Brokerage Services
The company’s financial advisory services and brokerage services business mainly targets clients from Greater China, Southeast Asia, and North America. The company’s financial advisory services and brokerage services (securities underwriting and other brokerage services) can only be carried out after it has completed the acquisition of J.V. Delaney & Associates and obtained the financial license and FINRA approval required for brokerage services business.
Distributed Storage and Computing Services
From 2021 to 2023, the company’s distributed storage and computing business only includes cryptocurrency mining. The company’s clients in the Bitcoin mining business it conducted from October 2021 to April 2022 were F2Pool mining pool operators. The company provides storage services to these end users and receiving Filecoin rewards as compensation for its services.
Marketing
The company engages various marketing channels to promote its business to more business partners and individual customers. The company also provides various incentives to its customers to increase their spending and loyalty, and it sends e-mails to its customers periodically with product recommendations and/or promotions. To enhance its brand awareness, the company also has engaged in brand promotion activities.
In addition to the online marketing activities, the company utilizes offline activities to attract more users and promote its brand recognition.
Competition
For the company’s distributed storage and computing services, the digital asset industry is intensely competitive and is densely populated by global competitors, including Marathon (MARA), Riot (RIOT), Bit Digital (BTBT), BIT Mining (BTCM), The9 (NCTY), among others.
Intellectual Property
As of December 31, 2023, the company had registered a generic top-level domain name. The company’s registered domain name is www.mercurityfintech.com.
History
The company was founded in 2011. The company was incorporated in 2011. The company was formerly known as JMU Limited and changed its name to Mercurity Fintech Holding Inc. in 2020.
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