Key Takeaways
- Digital Asset Treasuries are publicly traded firms dedicated to accumulating crypto.
- Aethir is a DePIN project offering GPU-as-a-service solutions for AI, gaming, and cloud.
- Binance Coin treasuries currently comprise over $500 million worth of BNB.
Two new Digital Asset Treasuries (DATs) from two separate biotech firms are set to launch after raising a combined $402 million in private placements to acquire huge sums of Aethir (ATH) and Binance Coin (BNB).
Aethir Treasury
According to announcements from both Predictive Oncology and Aethir, the former has raised approximately $344.4 million to build a gigantic, first-of-its-kind Aethir DAT.
This makes Predictive Oncology, a primarily biotech company, the first Nasdaq-listed firm to stack Decentralized Physical Infrastructure Network (DePIN) tokens.
For its part, Aethir is a DePIN project that focuses on providing a network of decentralized graphics processing units as a service for AI, gaming, and cloud workloads.
Dan Wang, co-founder and CEO of Aethir, explains that this partnership establishes “the world’s first Strategic Compute Reserve.”
“The Company acts not just as a digital asset treasury, but also as an operator that will strengthen Aethir’s ability to provide the global infrastructure layer for the future of AI,” he adds.
The deal involves two concurrent private placements in public equity. One takes in cash investments, and the other handles in-kind contributions of ATH.
As Aethir explains, this investment accelerates access to its business-focused GPU AI infrastructure.
In turn, it says this will generate revenues for providers, creating the foundations for a “self-sustaining flywheel of compute and value.”
The firm’s stock leaped more than 70% upon the news, though this has since corrected following a massive selloff in the past 24 hours.
Stacking BNB
Applied DNA Sciences, another biotech firm, has announced it’ll be allocating up to $58 million for a private investment in public equity to become a BNB DAT.
This pivot will also see the firm change its ticker to BNBX.
So far, the firm has secured $27 million in total commitments comprised of cash, stablecoins, and other assets, with potential for an additional $31 million in gross proceeds.
The firm has entered into multi-year deals with other firms for asset management, as well as strategic and technical guidance.
It intends to generate additional yield and accumulation of BNB. It’ll do so by integrating “actively managed decentralized finance protocols and Binance ecosystem-specific strategies.”
It’s a departure from typical passive staking and validator strategies. Instead, it takes a more proactive approach.
Patrick Horsman, the firm’s Chief Financial Officer and soon-to-be Chief Investment Officer, explained
“By actively integrating DeFi and native Binance yield strategies, we believe we will drive superior cash flow and return generation compared to more passive approaches, all while maintaining the flexibility and transparency that institutional investors demand.”
As per CoinGecko, this would make it the third publicly listed BNB DAT. At present, CEA Industries and Nano Labs hold a combined 516,888 BNB worth over $521.3 million
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Eddie is a gaming and crypto writer at CCN. Covering the often weird and wonderful world of Web3 with an adoring, but skeptical eye.
Prior to CCN, Eddie has spent the past seven years working his way through the crypto, finance, and technology industry. He began with PR and journalism with Bitcoin PR Buzz and BitcoinNews.com, eventually working his way to become a copywriter with a dozen firms, including the likes of Polkadot before returning to journalism in 2023.
Having studied Radio production and journalism at University in the UK, Eddie spent a few years making podcasts and presenting on a local London radio station as he built up his writing chops.
A lifelong skateboarder, Eddie can often be found at the skatepark or touring the streets looking for something new to try. That, or kicking back playing JRPGs on his original PSP.
