Nasdaq-listed firm CIMG Inc. has confirmed the sale of its 220 common stock shares at $0.25 per share, securing up to $55 million. The proceeds were used to purchase 500 BTC tokens to form the company’s Bitcoin treasury reserve strategy. The exchange deal follows CIMG’s announcement in Beijing that it will incorporate Bitcoin into its financial portfolio. The company stated that exchanging BTC for equity shows its commitment to building a long-term reserve strategy as part of its corporate treasury. CIMG expands into Bitcoin treasury strategies with 500 BTC Wang Jianshuang, CIMG CEO, acknowledged that the growing interest in cryptocurrency tokens and, in particular, Bitcoin created new opportunities for traditional businesses to interact with blockchain-based technology. “The growth and recognition of Bitcoin have revealed opportunities for traditional enterprises to integrate organically with the innovative blockchain system. We aim to pioneer a new era of Bitcoin financial applications and become one of the companies engaged in Bitcoin finance.” –Wang Jianshuang, CIMG CEO Jianshuang added that the company aims to increase its crypto reserve over time and expand partnerships in the AI and cryptocurrency sectors. She highlighted Merlin Chain, a layer two infrastructure designed to improve Bitcoin’s capabilities as a potential avenue for collaboration. Common stock shares were sold as a private placement under Regulation S of the Securities Act of 1993. CIMG noted in its press statement that introducing a Bitcoin treasury forms part of its strategic step to improve its financial position. The healthcare firm added that it remains focused on maintaining growth in its primary business sectors alongside expanding into digital finance. CIMG stock jumped by 3.58% in the premarket but quickly dropped in the open market after the announcement. The stock is down 3.53% today, trading at $0.25, with a day range of $0.25 – $0.29, and 5.4 % up throughout the past week. The stock YTD is down 65.16% with a year range of $0.19 – $3.50, showing a steep decline in company revenue throughout the year. Corporate treasuries hold around 1.5 million bitcoins The Beijing-based firm’s introduction of a Bitcoin treasury strategy aligns with the growing trend of publicly listed companies introducing BTC into their balance sheets. According to CoinGecko, corporate treasuries now hold approximately 1,493,561 BTC tokens valued at $165.3 billion. There are 129 public treasuries, with a 7.11% stake in the token’s total supply. U.S.-based Strategy leads the chart with a total accumulation of 636.5k BTC. If listed today, CIMG would rank 64th, just below Jasmine International PCL, with 506 BTC holdings. Cryptopolitan reported recently that more than 7,700 Bitcoin tokens were accumulated between August 18 and 24 despite BTC declining in prices from its ATH. MicroStrategy was a notable participant, accumulating 3,081 BTC for $356.9 million. Current market conditions show heightened volatility, with Bitcoin’s 24-hour trading volume spiking over 7% to $72.26 billion and the overall crypto market capitalization dropping by 0.35% to 3.77 trillion today. KEY Difference Wire helps crypto brands break through and dominate headlines fastNasdaq-listed firm CIMG Inc. has confirmed the sale of its 220 common stock shares at $0.25 per share, securing up to $55 million. The proceeds were used to purchase 500 BTC tokens to form the company’s Bitcoin treasury reserve strategy. The exchange deal follows CIMG’s announcement in Beijing that it will incorporate Bitcoin into its financial portfolio. The company stated that exchanging BTC for equity shows its commitment to building a long-term reserve strategy as part of its corporate treasury. CIMG expands into Bitcoin treasury strategies with 500 BTC Wang Jianshuang, CIMG CEO, acknowledged that the growing interest in cryptocurrency tokens and, in particular, Bitcoin created new opportunities for traditional businesses to interact with blockchain-based technology. “The growth and recognition of Bitcoin have revealed opportunities for traditional enterprises to integrate organically with the innovative blockchain system. We aim to pioneer a new era of Bitcoin financial applications and become one of the companies engaged in Bitcoin finance.” –Wang Jianshuang, CIMG CEO Jianshuang added that the company aims to increase its crypto reserve over time and expand partnerships in the AI and cryptocurrency sectors. She highlighted Merlin Chain, a layer two infrastructure designed to improve Bitcoin’s capabilities as a potential avenue for collaboration. Common stock shares were sold as a private placement under Regulation S of the Securities Act of 1993. CIMG noted in its press statement that introducing a Bitcoin treasury forms part of its strategic step to improve its financial position. The healthcare firm added that it remains focused on maintaining growth in its primary business sectors alongside expanding into digital finance. CIMG stock jumped by 3.58% in the premarket but quickly dropped in the open market after the announcement. The stock is down 3.53% today, trading at $0.25, with a day range of $0.25 – $0.29, and 5.4 % up throughout the past week. The stock YTD is down 65.16% with a year range of $0.19 – $3.50, showing a steep decline in company revenue throughout the year. Corporate treasuries hold around 1.5 million bitcoins The Beijing-based firm’s introduction of a Bitcoin treasury strategy aligns with the growing trend of publicly listed companies introducing BTC into their balance sheets. According to CoinGecko, corporate treasuries now hold approximately 1,493,561 BTC tokens valued at $165.3 billion. There are 129 public treasuries, with a 7.11% stake in the token’s total supply. U.S.-based Strategy leads the chart with a total accumulation of 636.5k BTC. If listed today, CIMG would rank 64th, just below Jasmine International PCL, with 506 BTC holdings. Cryptopolitan reported recently that more than 7,700 Bitcoin tokens were accumulated between August 18 and 24 despite BTC declining in prices from its ATH. MicroStrategy was a notable participant, accumulating 3,081 BTC for $356.9 million. Current market conditions show heightened volatility, with Bitcoin’s 24-hour trading volume spiking over 7% to $72.26 billion and the overall crypto market capitalization dropping by 0.35% to 3.77 trillion today. KEY Difference Wire helps crypto brands break through and dominate headlines fast
CIMG converts $55M stock proceeds into 500 Bitcoins
Nasdaq-listed firm CIMG Inc. has confirmed the sale of its 220 common stock shares at $0.25 per share, securing up to $55 million. The proceeds were used to purchase 500 BTC tokens to form the company’s Bitcoin treasury reserve strategy.
The exchange deal follows CIMG’s announcement in Beijing that it will incorporate Bitcoin into its financial portfolio. The company stated that exchanging BTC for equity shows its commitment to building a long-term reserve strategy as part of its corporate treasury.
CIMG expands into Bitcoin treasury strategies with 500 BTC
Wang Jianshuang, CIMG CEO, acknowledged that the growing interest in cryptocurrency tokens and, in particular, Bitcoin created new opportunities for traditional businesses to interact with blockchain-based technology.
Jianshuang added that the company aims to increase its crypto reserve over time and expand partnerships in the AI and cryptocurrency sectors. She highlighted Merlin Chain, a layer two infrastructure designed to improve Bitcoin’s capabilities as a potential avenue for collaboration.
Common stock shares were sold as a private placement under Regulation S of the Securities Act of 1993. CIMG noted in its press statement that introducing a Bitcoin treasury forms part of its strategic step to improve its financial position. The healthcare firm added that it remains focused on maintaining growth in its primary business sectors alongside expanding into digital finance.
CIMG stock jumped by 3.58% in the premarket but quickly dropped in the open market after the announcement. The stock is down 3.53% today, trading at $0.25, with a day range of $0.25 – $0.29, and 5.4 % up throughout the past week. The stock YTD is down 65.16% with a year range of $0.19 – $3.50, showing a steep decline in company revenue throughout the year.
Corporate treasuries hold around 1.5 million bitcoins
The Beijing-based firm’s introduction of a Bitcoin treasury strategy aligns with the growing trend of publicly listed companies introducing BTC into their balance sheets. According to CoinGecko, corporate treasuries now hold approximately 1,493,561 BTC tokens valued at $165.3 billion.
There are 129 public treasuries, with a 7.11% stake in the token’s total supply. U.S.-based Strategy leads the chart with a total accumulation of 636.5k BTC. If listed today, CIMG would rank 64th, just below Jasmine International PCL, with 506 BTC holdings.
Cryptopolitan reported recently that more than 7,700 Bitcoin tokens were accumulated between August 18 and 24 despite BTC declining in prices from its ATH. MicroStrategy was a notable participant, accumulating 3,081 BTC for $356.9 million.
Current market conditions show heightened volatility, with Bitcoin’s 24-hour trading volume spiking over 7% to $72.26 billion and the overall crypto market capitalization dropping by 0.35% to 3.77 trillion today.
KEY Difference Wire helps crypto brands break through and dominate headlines fast
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