Several publicly-traded companies in the United States announced on Tuesday significant increases in their investments in cryptocurrencies, aggregating to a substantial total of $844 million. This surge highlights a growing trend among corporations looking to capitalize on the potential of Bitcoin and other digital currencies.
Leading the charge is DDC Enterprise Ltd, a Hong Kong-based company specializing in heat-and-eat meals, which revealed it has entered into three major agreements totaling $528 million aimed at augmenting its Bitcoin holdings. Most of this capital is derived from a $300 million convertible note, a $200 million credit facility, and a $26 million equity investment. Notably, an investment firm from Dallas, along with Animoca Brands’ venture capital division, played significant roles in funding this initiative. DDC has set a high ambition to establish what it calls “the world’s most valuable Bitcoin treasury,” having already made its initial purchase of 21 Bitcoins back in May.
In a separate move, Fold Holdings Inc, recognized as the first publicly traded financial services firm dedicated to Bitcoin , secured a $250 million equity purchase facility aimed primarily at facilitating additional Bitcoin acquisitions. This agreement allows the company to issue and sell new shares to raise funds, pending approval from regulatory authorities. If successful, these funds could enable Fold to significantly enhance its holdings, which currently include 1,490 Bitcoins.
Simultaneously, BitMine Immersion Technologies, a firm focusing on Bitcoin mining equipment rentals, disclosed its acquisition of $16.3 million in Bitcoin funded through a recent stock offering. This purchase reflects BitMine’s strategy to boost its Bitcoin inventory through various financial means, having previously allocated some proceeds to acquire its initial batch of Bitcoin earlier in June.
Finally, Eyenovia, a NASDAQ -listed biotech company, entered the cryptocurrency space by initiating a $50 million private placement intended for the Hyperliquid (HYPE) token. The firm plans to accumulate over a million HYPE tokens, enhancing its crypto asset portfolio and branding itself with a new focus on decentralized finance. As part of its strategic shift, Eyenovia will also establish a new identity under the ticker HYPD.
