CIMG Inc., a digital health and sales development company, has completed a $55 million stock sale, through the sale of 220 million shares of its common stock at $0.25 per share. The proceeds were received in the form of 500 Bitcoin (BTC).
The company officially announced the completion of the deal on September 2. In the same announcement, the Board of Directors of CIMG Inc. stated, “The receipt of Bitcoin in payment for shares of the Company’s common stock is part of the Company’s financial management strategy. We are committed to a long-term Bitcoin holding strategy, building a robust Bitcoin reserve through a sound financial system to establish a solid value foundation for our investors,”.
Chairwoman and CEO Wang Jianshuang also shared that she sees it as more than just a hedge. “The growth and recognition of Bitcoin have revealed opportunities for traditional enterprises to integrate organically with the innovative blockchain ecosystem,” she said. “We aim to pioneer a new era of Bitcoin financial applications and become one of the companies engaged in Bitcoin finance.”
Strategic Pivot Toward Crypto Finance
CIMG’s decision is in line with an increasing trend of publicly traded firms using Bitcoin to diversify their corporate treasuries. While firms like MicroStrategy pioneered the model, others across industries are now exploring similar paths.
Additionally, CIMG also noted its intention to expand its digital asset holdings further and pursue partnerships within the AI and blockchain space. Merlin Chain, a layer-2 blockchain platform, was specifically mentioned as a potential collaborator.
Despite the deal, the firm’s stock dipped 3.53% on the day of the announcement, closing at $0.2543. The company’s current market capitalization stands at approximately $9.3 million, according to Yahoo Finance data.
Still, with 500 BTC now on its balance sheet, the company is aiming to steer towards a clear digital-forward strategy.