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Bitcoin and HYPE may gain a total profit of $844 million from 4 public American companies.
DDC Enterprise and Fold Holdings confirmed raising a total of $778 million in funding, with the biotechnology company stating it will raise $50 million to add HYPE as a treasury asset.
Bitcoin and HYPE may gain a total profit of $844 million from 4 public American companies.
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At least four American companies announced on Tuesday that they will boost their investments in cryptocurrencies by a total of $844 million, increasing the number of companies looking to get a boost from Bitcoin and other cryptocurrencies.
The biggest increase on Tuesday was from DDC Enterprise Ltd, a Hong Kong-based company specializing in fast food, which said it entered into three purchase agreements totaling $528 million, all of which will be used to expand the company's Bitcoin holdings.
Bitcoin
$104,971
Holdings.
The fundraising came almost entirely from a $300 million convertible note, a $200 million credit facility, and a $26 million equity investment. Dallas-based investment firm Anson Funds was the largest investor, while the venture capital arm of Animoca Brands also made a significant contribution.
DDC embarked on a mission to acquire "the world's most valuable Bitcoin treasury" and purchased its first batch of 21 Bitcoins on May 23 for nearly 255,000 shares in a $2.28 million deal.
DDC stated it plans to purchase 5,000 Bitcoins over the next three years - a goal it can achieve by securing $528 million, based on current prices.
Bitcoin company Fold raises $250 million to buy BTC.
Fold Holdings, the first public financial services company to deal in Bitcoin, announced on Tuesday that it secured a $250 million stock purchase facility, with net proceeds aimed "primarily" at funding additional Bitcoin purchases.
Source: FolBitcoin
The agreement allows Fold to issue and sell up to $250 million of newly issued shares to fund Bitcoin purchases at its discretion - subject to the resale registration statement that receives approval from the Securities and Exchange Commission.
If approved, shares will be sold through a private offering with exemptions from U.S. Securities and Exchange Commission registration rules. In this private offering, companies raise funds by selling securities to private investors instead of offering them in the public market.
At current prices, Fold could theoretically buy 2,390 Bitcoins for $250 million. Allocating only half of that amount for Bitcoin acquisitions would significantly boost Fold's current balance of 1,490 Bitcoins.
BitMine closes a $16 million Bitcoin purchase deal after equity raise.
Meanwhile, Bitcoin mining equipment leasing company BitMine Immersion Technologies said it bought 16.3 million Bitcoins using proceeds from a recent share offering.
The company now owns 154.16 Bitcoins, purchased at an average purchase price of $106,033.
Source: BitMine Immersion Technologies
BitMine stated that the purchase aligns with its new strategy to increase its Bitcoin holdings through a mix of self-mining and capital raising, reinforcing its commitment to accumulate as much Bitcoin as possible.
BitMine has already used some of the funds from its offering on June 6 to purchase its first 100 Bitcoins on June 9.
HYPE added as a treasury asset.
Biotechnology company Eyenovia, listed on Nasdaq, also joined the cryptocurrency buying spree on Tuesday, saying it signed a $50 million private offering to build a reserve for the Hyperliquid (HYPE) token, describing itself as "the first publicly traded company in the U.S. to build a long-term strategic treasury" for the asset.
Hyperliquid is a decentralized digital derivatives trading platform built on its own layer one blockchain. The platform relies on the HYPE token, which participates in staking, rewards active traders through airdrops, and governance activities.
Related: Bitcoin price stabilizes and rises amid regional conflicts, according to data.
Eyenovia announced that it will acquire over a million HYPE - worth $40.1 million at current prices - and will place the tokens on Anchorage Digital's cryptocurrency platform.
The company, which primarily focuses on developing digital eye screening technology, will also rebrand to "Hyperion DeFi" under the HYPD symbol.
Eyenovia also appointed Hyunsoo Gong as Chief Investment Officer and Board Member to lead the company's cryptocurrency strategy.
Gong said: "We view Hyperliquid as one of the fastest-growing blockchains and highest revenue-generating in the world."
