Bit Digital, Mega Matrix establish joint venture

Mega Matrix Corp. announced that its wholly-owned Singapore subsidiary, Saving Digital Pte. Ltd. has formed a joint venture with Bit Digital, Inc. by entering into a shareholders’ agreement with MarsProtocol Technologies Pte. Ltd., the joint venture company, to jointly provide proof-of-stake technology tools for digital assets through the staking platform "MarsProtocol", an institutional grade non-custodial staking technology. The JV Company will be domiciled in Singapore. Before offering any services, the JV Company will undertake a regulatory review to ensure that its services are fully compliant with the laws of Singapore and any other nation in which it seeks to conduct business. Pursuant to the Agreement, Saving will control 60% of the Joint Venture. Bit Digital is a sustainability-focused generator of digital assets with large-scale bitcoin mining operations. Bit Digital is headquartered in New York with operations throughout North America. As of December 20, Bit Digital had 7,904 ETH and 2,004 sETH-h with a combined worth of approximately $12.1 million. 2,164 ETH were actively staked as of that date, using either native staking or liquid staking protocols. Bit Digital intends to continue accumulating Ethereum and stake substantially all of its ETH position over time.