Adisyn (ASX:AI1) entered into a binding heads of agreement (HOA) with cryptocurrency mining services provider Metacorp Developments for the divestment of its miner hosting business assets, according to a Wednesday filing with the Australian bourse.
The sale, valued at AU$300,000 in cash, plus up to an additional AU$300,000 based on earn-out criteria, covers physical infrastructure and services for cryptocurrency mining, deemed non-core to AI1's operations, the filing said.
Under the terms of the agreement, Metacorp will acquire the legal and beneficial interest in the miner hosting assets, excluding any intellectual property related to the business, the filing added.
The settlement is subject to the satisfaction of various conditions precedent outlined in the HOA and is expected to close by March 1, the company said.
Its shares rose 10% in recent Wednesday trade.
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