Four US Firms Commit $844 Million to Cryptocurrency Investments

Four publicly traded companies in the U.S. have collectively committed $844 million to expand their cryptocurrency investments, with a significant focus on Bitcoin and the HYPE token. Leading the charge is DDC Enterprise Ltd, which secured $528 million to bolster its Bitcoin treasury. This funding was obtained through a mix of financial instruments, including a $300 million convertible note, a $200 million credit facility, and a $26 million equity investment. Notable investors in this round included Anson Funds and the venture capital arm of Animoca Brands. DDC Enterprise Ltd aims to establish the "world’s most valuable Bitcoin treasury" and has already made its first purchase of 21 Bitcoin on May 23, exchanging nearly 255,000 shares for $2.28 million. The company plans to acquire 5,000 Bitcoin over the next three years, a goal that could be achieved with the $528 million secured, based on current market prices.

Fold Holdings Inc., a Bitcoin financial services firm, announced a $250 million equity purchase facility. The proceeds from this facility will primarily be used to acquire additional Bitcoin. The agreement allows Fold to issue and sell up to $250 million in newly issued shares to fund the Bitcoin purchases, subject to approval from the Securities and Exchange Commission. If executed in full, the funds could add up to 2,390 Bitcoin to Fold’s treasury at current market prices, significantly bolstering its current holding of 1,490 Bitcoin. The funding agreement allows Fold to issue new shares through a private placement, pending SEC registration approval.

BitMine Immersion Technologies, a Bitcoin mining equipment rental company, announced the purchase of $16.3 million worth of Bitcoin using proceeds from a recent stock offering. The firm now owns 154.16 Bitcoin, with an average purchase price of $106,033. This acquisition aligns with BitMine's strategic pivot toward accumulating Bitcoin through both mining and capital raises. The company had already used some funds from the June 6 offering to buy its first 100 Bitcoin on June 9, demonstrating its commitment to increasing its Bitcoin holdings.

Eyenovia, a biotech firm, revealed a $50 million private placement to acquire and stake Hyperliquid’s native HYPE token. The company plans to accumulate over 1 million HYPE tokens, currently worth around $40.1 million, and will stake them via Anchorage Digital. Eyenovia specializes in digital eye examination technology and has announced a full rebrand to “Hyperion DeFi” with the ticker symbol HYPD. The company appointed Hyunsu Jung as Chief Investment Officer to lead its DeFi strategy. Jung highlighted Hyperliquid as one of the fastest-growing, highest-revenue-generating blockchains in the world.

This wave of investments underscores the growing interest and confidence in cryptocurrencies among diverse sectors. The significant capital commitments from these firms indicate a strategic shift toward integrating digital assets into their financial portfolios. DDC Enterprise Ltd's aggressive approach to building a substantial Bitcoin treasury, coupled with Fold Holdings Inc.'s substantial equity purchase facility, demonstrates a strong belief in the long-term value of Bitcoin. BitMine Immersion Technologies' strategic pivot and Eyenovia's foray into the HYPE token further illustrate the diverse applications and potential of cryptocurrencies beyond traditional financial instruments. These investments not only reflect the firms' optimism about the future of digital assets but also their readiness to navigate the evolving landscape of cryptocurrency markets.