Mercurity Fintech Holding Inc. (NASDAQ:MFH) shares are trading higher premarket on Wednesday after the company disclosed that it established a majority-owned subsidiary in Hong Kong, Aifinity Base Limited.
Aifinity aims to produce advanced liquid cooling panels designed to enhance the efficiency and performance of AI infrastructure, high-performance computing (HPC), Nvidia chip-powered GPUs, and other high-performance AI accelerators.
By integrating cutting-edge liquid cooling technology with user-friendly components, Aifinity plans to produce cooling panels designed to dissipate the intense heat from modern AI computing.
Looking ahead, Aifinity intends to expand beyond cooling panels into broader cooling solutions.
The company aims to tackle the rising challenge of heat management in advanced AI systems and intends to collaborate with top hardware manufacturers through its holding company’s network to create tailored cooling solutions for next-generation AI infrastructure.
Lately, Mercury Fintech has been focusing on expanding into AI hardware intelligent manufacturing and advanced liquid cooling solutions.
In December, the company closed a private investment in public equity and garnered gross proceeds of around $10 million.
Consequently, last month, the company announced the pricing of another private investment in public equity (PIPE) financing to generate approximately $8.04 million in gross proceeds before fees and expenses.
Price Action: MFH shares are up 14% at $7.97 premarket at the last check Wednesday.
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