DigiAsia Corp Plans to Raise Up to $100 Million for Bitcoin Reserve
DigiAsia Corp (FAAS) plans to raise up to $100 million for a bitcoin treasury reserve, joining other companies diversifying their balance sheets with bitcoin. Key points include:
- Share price increased 91% during trading to 36 cents, then fell 22% after hours.
- Company to allocate up to 50% of future net profits for BTC purchases.
- Plans yield-generating strategies via institutional lending and staking.
- Exploring financing options like convertible notes and crypto-linked instruments.
- Reported $101 million in revenue for 2024 with projected EBIT of $12 million.
The commitment to bitcoin investment is aimed at long-term treasury diversification.