Chiara Bianchi
CIMG Inc. (Nasdaq: IMG) revealed on Tuesday that it has successfully completed a $55 million capital raise aimed at expanding its Bitcoin holdings. The funds were generated through the sale of 220 million common shares at $0.25 each, with the proceeds allocated to purchase 500 BTC, according to the company’s official release.
The firm’s board of directors emphasized their dedication to a long-term Bitcoin reserve strategy, stating:
“We are committed to strengthening our financial foundation for investors by building a robust Bitcoin reserve.”
Chairman and CEO Wang Jianshuang added that CIMG plans to continue growing its digital asset reserves and explore collaborations with AI and crypto ecosystems, mentioning Merlin Chain as a potential partner.
Corporate Bitcoin Treasuries Gain Momentum
Inspired by Michael Saylor’s Strategy, dozens of publicly traded companies have established corporate crypto treasuries in recent years. While most focus on Bitcoin and Ethereum, more firms are starting to diversify into altcoins such as Solana, BNB, and XRP, reflecting the broader institutional adoption of digital assets.
Market Reaction to CIMG’s Announcement
Despite the fundraising news, CIMG’s stock slipped 3.53% on Tuesday, closing at $0.2543, according to Yahoo Finance. The company currently holds a market capitalization of roughly $9.3 million.
