DigitalX receives A$20.7 million in strategic investment to expand Bitcoin reserves, with Animoca Brands and others participating

PANews reported on July 8 that according to an official announcement, Australian crypto asset management company DigitalX (ASX code: DCC, OTCQB code: DGGXF) announced that it has obtained a firm subscription commitment of approximately A$20.7 million through strategic placements by Animoca Brands, UTXO Management, ParaFi Capital and other investors. In addition, Animoca Brands co-founder Yat Siu will join DigitalX's proposed strategic advisory committee.

Regarding the use of such placement funds, approximately A$19.7 million will be used to expand the company's Bitcoin reserves, and the remaining funds will be used for the costs of this issue and working capital. As part of this placement, the company's directors and related parties have committed to subscribe for A$610,000 of placement shares subject to shareholder approval.