Boyaa Interactive Plans to Invest Nearly $70 Million in Cryptocurrency Purchases

Odaily News Boyaa Interactive (00434) announced that the Board of Directors proposes to seek shareholder approval to grant a purchase authorization, allowing the company to use idle cash reserves generated from business operations for potential cryptocurrency purchases within the next 12 months, with a total amount not exceeding $70 million. This move aims to seize opportunities during the downturn in the cryptocurrency market, 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 Ether, with an average unit price of approximately $1,661; and approximately 7,000,700 Tether purchased. The Board plans to conduct these cryptocurrency purchases on regulated trading platforms to ensure market liquidity and security.