Boyaa Interactive Plans to Spend Up to $70 Million to Purchase Cryptocurrency, Ramping Up Web3 Business Layout

Hong Kong-listed company Boyaa Interactive (00434) released an announcement in which the board of directors recommended seeking shareholder approval for a purchase mandate to enable potential cryptocurrency purchases using idle cash reserves from the company's business operations over the next 12 months, with a total amount not exceeding $70 million.

This move aims to capitalize on opportunities during the cryptocurrency market downturn, appropriately expand cryptocurrency allocation, and further support the company's Web3 business development. As of the announcement date, the company holds a total of 4,092 bitcoins with an average unit price of approximately $68,200; a total of 302 ethereum with an average unit price of approximately $1,661; and approximately 7,000,700 purchased tethers. The board of directors plans to conduct these cryptocurrency purchases on regulated trading platforms to ensure market liquidity and security.