Health-equipment producer Interactive Power (TRNR) stated it entered right into a securities buy settlement to lift as a lot as $500 million for getting Fetch.ai’s FET token as a crypto treasury technique.
The Nasdaq-listed firm is already within the course of of shopping for the tokens after elevating $55 million of latest capital from ATW Companions and DWF Labs, it stated in a launch shared with CoinDesk.
“Digital belongings are quickly turning into a necessary a part of international monetary infrastructure and AI is the largest technological leap in our lifetime,” CEO Trent Ward stated within the assertion. “We consider our technique to accumulate a major variety of $FET tokens might dramatically speed up our mission to create vital long-term worth for TRNR shareholders.”
Interactive Power, the maker of CLMBR and FORME branded tools, joins a long list of public companies in U.S. which are including cryptocurrencies to their stability sheets. Most, led by Technique (MSTR), are centered on bitcoin
. None of those corporations has acquired AI tokens like FET.
TRNR, which has a market cap of $8.4 million, will use BitGo for buying and selling and custody of its FET holdings, in line with the press launch. Its shares rose 3.5% to 83 cents in pre-market buying and selling.