Chinese mining company SOS announced its intention to purchase 50 million worth of BTC, causing its stock price to surge by 42%. Another company is looking to survive by investing in BTC.

SOS Limited, a publicly traded company based in China that operates BTCMining Farm in the United States, announced that it would buy $50 million worth of BTC, triggering a sharp rise in the stock price. (Synopsis: Trump's 2.0 cabinet forms the Cryptocurrency national team? Super Five is a veteran player of BTC) (Background supplement: BTC has a Thanksgiving spell? Statistics show that the probability of coin prices closing down in the past ten years is as high as 70%) Yesterday (27), the news that SOS Limited, a listed company headquartered in China and operating BTCMining Farm in the United States, plans to buy $50 million worth of BTC, making the company's stock price rise sharply, becoming one of the latest cases of a series of recent corporate purchases of BTC. Why should SOS invest in BTC? SOS said the $50 million BTC acquisition initiative expresses the company's confidence in BTC as a global "store of value and strategic asset." It will respond to market fluctuations through "investment, trading and Arbitrage strategies" and maximise returns. "The BTC market is currently performing strongly and is supported by a number of positive developments, including the launch of related ETF products and the gradual improvement of the regulatory environment for digital assets in the United States," said Yandai Wang, CEO of SOS. He stressed that this BTC investment plan will further enhance the company's overall competitiveness and profitability in the field of digital asset investment. SOS shares soared After the news was announced, SOS's stock price closed about 42.88% higher on the 27th at $9.93 and continued to rise in after-hours trading. But despite the short-term stock rebound, SOS's share price has fallen 86.7% this year, indicating the company's long-term operational difficulties. Remarks: SOS received a breach letter from the New York Stock Exchange (NYSE) in August 2024, stating that its share price performance was not up to par and was at risk of delisting. As more and more businesses see BTC as a long-term asset, the cryptocurrency craze is spreading and triggering widespread follow-up in the market. Despite the volatility of BTC prices, many companies still believe that it has the potential to become "digital gold" and choose to incorporate it into their capital operation strategies. SOS isn't the only company bullish on BTC. Rumble, the far-right alternative to YouTube, which is also under downward pressure from SOS, announced on the 25th of this week that it would spend $20 million to buy BTC. Rumble's share price rose nearly 13% after the announcement, and BTC remains attractive to some struggling companies. In addition, Genius Group, an AI-powered education company, also announced this month that it will spend $10 million to buy 110 BTC and plans to convert 90% of its future reserves into BTC. The company's share price rose more than 22% to $0.91, but still failed to recover to $1.05 after the announcement, far from the all-time high of $96.80 in June 2022. Recently, a number of listed companies with chronically depressed stock prices have expressed their intention to buy BTC, and these companies hope to break through the current predicament by investing in or holding BTC. In the short term, these investments seem to help stock prices, but the long-term effects remain to be seen. Related Stories Trump 2.0 Cabinet Formed Cryptocurrency National Team? Super Five is a BTC veteran player BTC has a Thanksgiving spell? Statistics: In the past ten years, the probability of coin price closing is as high as 70% Listed company LQR House announced an investment of 1 million US dollars in BTC, and its e-commerce company opened encryption to pay for wine "Chinese mining company SOS announced that it will buy 50 million magnesium BTC "stock price gushing 42%", another company wants to rely on BTC to continue its life" This article was first published in BlockTempo "Dynamic Trend - The Most Influential Block Chain News Media".