Nilam announced it had signed a letter of intent with Xyberdata to buy 24,800 bitcoins.
Takeaway Points
- Nilam announced it had signed a letter of intent with Xyberdata to buy 24,800 bitcoins.
- This was reported by GlobeNewswire.
Letter of Intent (LOI)
Nilam Resources, an American gold mining company, has announced it signed a Letter of Intent (LOI) with Xyberdata Ltd. to buy 24,800 bitcoins and other assets on Monday, according to GlobeNewswire.
Pranjali More, CEO of Nilam Resources, Inc., said that the company and team have been working so hard to finalize everything regarding the legally binding Letter of Intent.
“The acquisition marks a significant strategic milestone for the Company and represents over a billion dollars in digital assets. The Company and team have been working diligently over the last several months to finalize all agreements and due diligence necessary to proceed to a legally binding Letter of Intent (LOI),” Pranjali said.
Pranjali further added, “This acquisition and resulting strategic partnership align with NILA’s vision, mission, and core values—a future where finance is inclusive and sustainable, pioneering transparent, impactful solutions while driving positive change in the digital economy. Transparency, innovation, and sustainability define us. We prioritize clear communication, embrace cutting-edge ideas, and invest in projects with enduring social and environmental impact.”
From the report, it stated that with the current market rally and the financial market’s recognition of Bitcoin as the “Gold Standard” and the future of digital transactions, this transaction brings Nilam Resources assets with a value exceeding One Billion Dollars (USD).
Mr. Nadan, Director of Xyberdata Ltd., said that this partnership will permit them to work with the best minds in fintech.
“This Letter of Intent (LOI) allows our team to work in unison with some of the best minds in Fintech. The Xyberdata Ltd.team has a proven track record of strategic partnerships, acquisitions and continued support innovation for the industry,” Nathan said.
Nilam Resources, Inc.
Nilam Resources, Inc. is an investment holding company that stands at the forefront of innovation and strategic evolution. With its pursuit of growth, excellence, and positive impact, the company embraces the dynamic fields of Frontier Technologies and Applications. Its main goal is to generate returns on its investments by acquiring, holding, and sometimes actively managing a portfolio of businesses in various verticals, including FinTech, MedTech, ClimateTech, and more. By diversifying into these verticals, NILA aims to tap into the innovative potential of these technologies and contribute to their growth while generating returns for its investors.
Xyberdata:
Xyberdata was formerly known as 101 Systems Ltd., and its headquarters is in Mauritius. Xyberdata is a leading player in global connectivity services. According to a report, since 2011, Xyberdata has been instrumental in keeping the world connected. With a network spanning Africa, Asia, Europe, North America, Oceania, and South America, comprising 80,000 km of optical fiber and 1,800 MPLS endpoints.
What is Bitcoin?
Bitcoin is a digital currency that can be sold and transferred between parties securely over the internet. It was introduced by an anonymous person called Satoshi Nakomoto in 2009. It takes 10 minutes to mine a new block. The four components of Bitcoin are gaming theory, hardware, cryptography, and Bitcoin software
