HONG KONG SAR – DL Holdings Group Limited (HKEX: 1709) has announced a significant strategic partnership with Antalpha, a prominent entity in digital asset financial services, valued at up to US$200 million. This collaboration is set to encompass tokenised gold assets and Bitcoin mining infrastructure, establishing a dual-track strategy that unifies traditional and digital finance.
On the aspect concerning gold assets, DL Holdings is actively progressing with its initial US$5 million investment in Tether Gold (XAU₮) and plans to acquire and distribute an additional US$100 million worth of XAU₮ over the forthcoming twelve months. Regarding Bitcoin mining, the group has earmarked another US$100 million for infrastructure investment, having already procured a substantial number of high-performance mining machines and formed a strategic alliance with Antalpha.
This collaboration fortifies DL Holdings’ position within the hashrate sector while advancing its ambition to become Asia’s leading listed Bitcoin mining company. Antalpha, listed on Nasdaq, plays a vital role in the global Bitcoin mining ecosystem and holds an exclusive strategic partnership with Bitmain, the world’s foremost manufacturer of mining rigs, providing crucial financing services to Bitmain’s clientele globally.
The union of DL Holdings and Antalpha aims to leverage top-tier equipment, specialized financing, and operational advancements, crafting a powerful synergy aimed at establishing DL Holdings as a preeminent Bitcoin mining firm in Asia. A pivotal innovation of this partnership involves integrating traditional gold assets into the blockchain. Over the next year, DL Holdings envisions investing up to US$100 million in tokenised gold assets under Tether Gold, facilitating access for both institutional and retail investors to on-chain gold via familiar platforms such as brokerage accounts and structured products. Antalpha will support this venture by providing liquidity, custody, and collateralized lending services through its RWA Hub platform, while also establishing physical vaults in major financial centres to ensure a seamless gold redemption process.
Tether Gold (XAU₮), issued by Tether, the leading stablecoin provider, represents approximately 70% of the global stablecoin market. Each XAU₮ token is backed by a unique, numbered gold bar stored in London, melding the intrinsic value of gold with the efficiency of digital trading. Harnessing its licensed status in Hong Kong and robust financial distribution channels, DL Holdings is transitioning from a mere purchaser to a strategic partner for XAU₮ in the Asia-Pacific region. Together with Antalpha, DL intends to co-develop collateralised lending, yield-enhancement products, and structured solutions to create a comprehensive digital gold ecosystem catering to institutional and high-net-worth investors.
In a climate of persistent global inflation and geopolitical uncertainties, gold remains a traditional safe-haven asset, having surged over 50% year-to-date, thus reaffirming its role in wealth preservation. Concurrently, the tokenised gold market has seen rapid growth, with a market capitalisation exceeding US$3 billion as of 2025, positioning it as the largest real-world asset category by market value. XAU₮ holds roughly 50% market share in the tokenised gold segment, maintaining its industry-leading status. Tokenisation enables investors to enjoy the appreciation and stability of gold while circumventing the premiums and liquidity constraints associated with traditional physical gold holdings, thereby providing a more efficient and transparent investment avenue.
In addition to tokenised gold, DL Holdings and Antalpha are deepening their collaboration in Bitcoin mining, establishing a strategic alliance among leading industry players. DL Holdings has already secured financing for several thousand high-performance mining rigs and is nearing completion on acquiring approximately 3,000 Antminer S21 units from Bitmain. The current operational capacity is projected to yield around 350 BTC annually, while the firm aims to invest an additional US$100 million in hashrate expansion over the next 12 months, targeting an ambitious medium-term goal of about 1,500 BTC per year. Antalpha will provide comprehensive support, including financing solutions, mining technology, and risk management to facilitate efficient and transparent access to Bitcoin for both individual and institutional investors.
Mr. Andy Chen, Chairman of DL Holdings Group, remarked on the dual advances in both the value carrier and the digital financial infrastructure. He noted, “By digitising physical gold, we are reshaping how value is stored and circulated; by investing in large-scale hashrate, we are reinforcing the foundation of digital assets.” This strategic partnership signifies a pivotal milestone in DL Holdings’ mission to merge traditional finance with the digital asset ecosystem.
From acquisitions of high-performance mining rigs to the tokenisation of stakes in prominent firms like ByteDance and Kraken, and to converting properties like DL Tower in Central Hong Kong into tokenised assets, DL Holdings exemplifies a diversified approach to asset tokenisation. These initiatives align with Hong Kong’s goal to emerge as a leading international digital finance hub, further solidifying DL Holdings’ prominence in the interplay of digital and traditional financial landscapes.
