Cimg Inc. announced on Tuesday that it has closed the sale of 220 million common shares for $ 55 million as part of a strategic movement to build a solid Bitcoin treasure.
The Sales Development Company has acquired 500 BTC with the income of the sale, said a company statement.
The CIMG Board said that Bitcoin’s purchase is aligned with the company’s financial management strategy and the Bitcoin’s possession agenda in the long term.
“In the future, the company intends to continue increasing its digital asset reserves and pursue collaborations in AI and cryptography ecosystems, such as Merlin Chain,” said Wang Jianshuang, CEO of CIMG.
CIMG, which also focuses on digital health, sold the actions through a private placement in accordance with the S. regulation, this means that the transaction is exempt from the registration requirements of the US Sec Stay Law. UU.
Bitcoin reserves quickly become a new corporate strategy plays book
Several companies have established corporate cryptographic treasures, after the successful accumulation of Bitcoin by Michael Saylor’s strategy.
There are more than 170 Bitcoin Treasury companies in operation, where most have dissolved their original business plan to focus on raising capital to buy Bitcoin.
Thomas Fecker-Boxler, an interim CEO of the Web3 Foundation, believes that the recent wave of corporate treasures that move to Bitcoin is less a surprise and more a predictable result that capital pursues.
Speaking to Cryptonews, he said that the trend is “double -edged”, with the risk of instability.
“The positive side is that a new capital segment is entering the market, potentially expanding the adoption and deepening of liquidity,” he said. “But this is less a sign of structural maturity than the opportunistic assignment. Ultimately, the trend is double -edged: it brings new capital and visibility, but also entails the risk of instability if it is paid purely as a financial game.”
In addition, he compared the dynamics with those of the traditional markets, “where the impulse builds, the balances are stretched and the structures eventually relax in a disorderly way.”
“The sustainability of corporate crypto treasure bonds will depend less on short -term enthusiasm and more of leverage and balance structures behind them, especially where convertible and convexity are involved.”
The CIMG stock falls 3.53%
Cimg’s pivot to Bitcoin’s treasure arrives at a time when the company faces significant financial challenges, with a decrease in income, negative gain margins and financial instability. The company’s results state shows a substantial recession.
After the announcement of the BTC accumulation plan, CIMG shares fell 3.53% on Tuesday, closing at $ 0.2543.
The sales firm that is quoted at Nasdaq CIMG presents 500 BTC Treasury Move, closes the sale of $ 55m shares first appeared in Cryptonews.
