CIMG Inc., a digital health and sales development company, has completed a $55 million stock sale, reflecting its strategy of investing in cryptocurrencies.
Completion of the Deal and Bitcoin Receipt
CIMG Inc. announced the completion of the sale of 220 million shares of its common stock at $0.25 per share, resulting in the receipt of 500 Bitcoin. The announcement was made on September 2. The company's management noted, 'The receipt of Bitcoin in payment is part of the Company's financial management strategy.'
Strategic Shift Toward Crypto Finance
CIMG's decision aligns with a growing trend among publicly traded companies to use Bitcoin for diversifying their corporate treasuries. CEO Wang Jianshuang stated, 'The growth and recognition of Bitcoin have revealed opportunities for traditional enterprises to integrate organically with the innovative blockchain ecosystem.'
Market Response and Future of CIMG Inc.
Despite the deal, the company's stock fell 3.53% on the announcement day, closing at $0.2543. CIMG's current market capitalization is approximately $9.3 million. Nevertheless, with 500 BTC on its balance sheet, the company aims for a clear digital-forward strategy.
CIMG Inc. continues to develop its digital assets and explores opportunities for integration with blockchain technologies, reflecting an overall market trend.
