Meten Holding Group Ltd. (METX)

Meten Holding Group was a China-based provider of English language training. Through its Meten and Likeshuo brands it operated adult English classes in learning centers and online, aimed at working professionals and students. The company served customers mainly in major Chinese cities. It promoted itself as one of the larger adult English training operators in the country.

Meten became a Nasdaq-listed company in March 2020 through a merger with EdtechX Holdings Acquisition Corp, a special purpose acquisition company, after which it traded as Meten EdtechX under the symbol METX. Its listing coincided with the COVID-19 pandemic, which forced the closure of many offline learning centers. Losses widened and the stock fell sharply, leading to share consolidations to keep the listing.

Facing a shrinking education business and tighter regulation of private tutoring in China, the company began moving into cryptocurrency mining in 2022. It acquired bitcoin mining machines and sought hosting capacity outside China. Over time the mining business became the company's main focus while the legacy education operations were scaled back.

To reflect the new strategy, the company changed its name to BTC Digital Ltd. effective in August 2023. Its Nasdaq ticker then changed from METX to BTCT on September 29, 2023. The same company continues to trade on Nasdaq under the BTCT symbol.