According to an announcement from Hong Kong-listed Boyaa Interactive International Limited, approximately 90% of the proceeds from its HK$440 million rights issue will be used to purchase Bitcoin to promote Web 3 business development, with the remaining 10% earmarked for working capital and general corporate purposes. The board of directors believes that cryptocurrencies, particularly Bitcoin, are a key strategic resource for the Web 3 industry, and that preemptive investment and expansion of reserves will significantly impact the company's future competitive advantage.

Earlier on August 25, it was reported that Boyaa Interactive planned to raise up to 440 million yuan through a rights issue at a discount of 8.19%.