Boyaa Interactive plans to invest no more than 70 million USD to purchase cryptocurrency, further enhancing its Web3 business layout

The Hong Kong-listed company Boyaa Interactive (00434) announced that the board of directors recommends seeking shareholder approval for a purchase authorization to use idle cash reserves from the company's business operations for potential cryptocurrency purchases within the next 12 months, with a total amount not exceeding $70 million.

This move aims to take advantage of opportunities during the downturn in the cryptocurrency market to appropriately expand the allocation of cryptocurrencies 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 price of approximately $68,200; a total of 302 ethers, with an average price of approximately $1,661; and approximately 7,000,700 Tether coins purchased. The board plans to conduct these cryptocurrency purchases on regulated trading platforms to ensure market liquidity and security.