Key Takeaways
- CIMG has purchased 500 BTC in exchange for $55 million worth of its stock.
- Strategy remains a leader in the space. Its latest purchase brought its total holdings to over 628,000 BTC.
- Beyond companies that acquire Bitcoin through capital raises, Bitcoin mining firms like Marathon Digital Holdings are also significant holders.
Digital health and sales group CIMG has closed the sale of 220 million shares of its common stock in exchange for 500 Bitcoin.
The move comes as part of its new long-term Bitcoin holding strategy, as it joins the long list of institutions pursuing digital asset treasuries.
CIMG Purchases 500 Bitcoin
On September 2, the firm closed the previously announced sale of 220 million shares of its common stock, raising $55 million.
The funds were used to purchase 500 Bitcoin, currently worth $111,123 at the time of reporting.
“We aim to pioneer a new era of Bitcoin financial applications and become one of the companies engaged in Bitcoin finance,” said Wang Jianshuang, the Chairwoman of the Board of Directors and CEO of CIMG.
CIMG said it was committed to “building a robust Bitcoin reserve through a sound financial system to establish a solid value foundation for our investors.”
Strategy Bitcoin Form Surges
The firm’s decision mirrors a growing movement among institutions to add the volatile digital asset to their treasuries, with an increasing number of publicly traded companies holding bitcoin on their balance sheets.
This continues to be led by business intelligence firm Strategy, which has consistently expanded its position as the largest institutional holder of bitcoin.
Its latest acquisition of 4,048 bitcoin for $449.3 million, made between late August and early this week, brings its total holdings to 628,946 BTC.
The company’s total holdings now stand at 636,505 BTC, valued at approximately $70 billion at current prices.
Bitcoin Treasuries Growing
The recent acquisition follows other major public Bitcoin holders who have been making moves to bolster their holdings.
Bitcoin miners, for instance, are increasingly choosing to hold onto a larger portion of the coins they produce rather than selling them to cover operational costs.
Marathon Digital Holdings (MARA) and Riot Platforms (RIOT) are two of the largest, with holdings of over 50,000 BTC and 19,000 BTC, respectively.
Meanwhile, other companies from diverse industries are also joining the ranks.
Japan’s Metaplanet, a publicly traded investment company, has also become a significant holder, now holding tens of thousands of Bitcoin.
Kurt Robson is a London-based reporter at CCN, specialising in the fast-moving worlds of crypto and emerging technology. He began his career covering local news in Cornwall after graduating from Falmouth University with First Class Honours in Journalism. There, he cut his teeth on everything from council meetings to missing swans.
He quickly rose through the ranks to become a frontline journalist at several of the UK’s leading national newspapers. Over the years, he has interviewed musicians and celebrities, reported from courtrooms and crime scenes, and secured multiple front-page exclusives.
Following the upheaval of the COVID-19 pandemic, Kurt shifted his focus to technology journalism—just ahead of the AI boom. With a natural curiosity and a trained eye for emerging trends, he has found a new rhythm in reporting on innovation.
At CCN, Kurt's work focuses on the cutting edge of crypto, blockchain, AI, and the evolving digital world. Drawing on his background in people-first reporting and his deep interest in disruptive tech, Kurt delivers stories that are insightful, entertaining, and human-centric.
