AlphaTON, a micro-strategy platform, has filed a $420 million shelf registration application with the U.S. Securities and Exchange Commission.

Odaily Planet Daily reports that AlphaTON Capital Corp (ticker symbol ATON), a Nasdaq-listed TON token reserve company, announced on Thursday that it has filed a $420.69 million shelf registration application with the U.S. Securities and Exchange Commission. The funds will support AlphaTON's expansion of artificial intelligence and high-performance computing infrastructure, aiming to provide computing power for Telegram's Cocoon AI network and advance the company's acquisition strategy targeting "revenue-generating companies within the Telegram ecosystem."

AlphaTON stated that it has identified several "high-potential acquisition targets," including startups focused on payments, content distribution, and blockchain services within The Open Network ecosystem. The funds will also be used to build AlphaTON's TON token reserve and reserves of "other related digital assets."

AlphaTON stated that it has converted the majority of its balance sheet assets into Toncoin and staking positions, while exploring additional expansion opportunities. (The Block)