Next Technology Plans $500M Stock Sale to Purchase Bitcoin

Next Technology Holding, a major Chinese Bitcoin treasury firm, plans to sell $500 million in common stock, as per a filing with the US SEC. The funds will be used for corporate expenses and purchasing additional Bitcoin.

The company aims to boost its BTC holdings, potentially influencing positive momentum in the crypto market.
The market is currently experiencing high volatility and slight bearish trends, affecting overall sentiment.
As a Nasdaq-listed company, Next Technology must comply with US SEC regulations when issuing new shares.
The firm holds 5,833 BTC, acquired at an average cost of $31,386 per BTC, with a profit margin of 269%.
Currently, Bitcoin trades at $115,800.
In comparison, Strategy, led by Michael Saylor, has acquired 638,985 BTC at an average price of $73,914, achieving a 56% profit margin.