ZOOZ Power Co. has announced the acquisition of 525 Bitcoin, marking its first major cryptocurrency purchase. The transaction, completed at an average price of $114,000 per Bitcoin, amounts to a total investment of $60 million. This move is part of ZOOZ's strategy to allocate 95% of its recently secured $159 million in private financing towards long-term Bitcoin reserves.
In addition to this purchase, ZOOZ has filed an F-3 form with the U.S. Securities and Exchange Commission, seeking to raise up to $1 billion to further its business objectives. Notable strategic investors in this initiative include Pantera Capital and FalconX, highlighting significant institutional interest in ZOOZ's expansion plans.
ZOOZ Power Co. Acquires 525 Bitcoin for $60 Million
Disclaimer: The content provided on Phemex News is for informational purposes only. We do not guarantee the quality, accuracy, or completeness of the information sourced from third-party articles. The content on this page does not constitute financial or investment advice. We strongly encourage you to conduct you own research and consult with a qualified financial advisor before making any investment decisions.