Aurora Cell (JG), a Nasdaq-listed advertising expertise supplier, is the flood publicly traded firm to plan a treasury technique that features cryptocurrency investments.
The Shenzhen, China-based firm’s board approved an initiative to convert as much as 20% its money and money equivalents into BTC and different digital belongings. The investments might embody bitcoin
, ether , Solana’s sol and sui amongst different tokens, it stated Wednesday.
Aurora goals to “protect and improve asset worth whereas supporting its technique to increase market protection,” it stated in an announcement.
In its latest quarterly earnings report, Aurora reported money, money equivalents and restricted money totaling 113.6 million yuan ($15.8 million), suggesting it may make investments some $3 million in bitcoin and different crypto.
The technique emulates that of a number of different corporations which have revealed plans to acquire bitcoin in latest weeks.
The corporate’s shares jumped in pre-market trading following the announcement, buying and selling almost 10% increased at $12.10.
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