Next Technology Holding, a Chinese company known for holding a large amount of Bitcoin
The company stated in a September 15 filing with the US Securities and Exchange Commission (SEC) that the funds could be used for general business purposes, but purchasing additional Bitcoin is one of the possible uses.
The firm currently owns 5,833 Bitcoin, valued at approximately $671.8 million. This places it among the top 15 public companies with large Bitcoin reserves, more than others such as GameStop, Semler Scientific, and KindlyMD.
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If just half of the new funding were directed toward Bitcoin purchases, the company could acquire an additional 2,170 coins based on current prices. That would push its total holdings above 8,000 Bitcoin.
Next Technology operates in several markets, including the US, Hong Kong, and Singapore, and focuses on artificial intelligence (AI) software products.
The company has been acquiring Bitcoin at an average price of $31,386 per coin, which has resulted in an unrealized gain of about 266.7%.
Companies like Next Technology are using a range of financial tools, including stock offerings, convertible bonds, and mergers, to raise the necessary funds for such purchases. So far, around 190 public firms hold Bitcoin.
Sequans Communications recently announced a new plan to expand its Bitcoin reserves. What does the plan include? Read the full story.
