Tokyo Energy Firm Raises $215 Million in Bitcoin Treasury Expansion Funding

Tokyo-based energy company Remixpoint secured 31.5 billion yen ($A215 million) to substantially expand its corporate holdings of Bitcoin (BTC), according to an announcement made on Wednesday. Remixpoint CEO Takashi Tashiro emphasized the company’s increasing confidence in Bitcoin’s future.

The funding round implemented Series 25 Stock Acquisition Rights, creating 55 million new shares and diluting the ownership stake by nearly 40%, and Series 4 Unsecured Bonds. Transaction terms were executed at market price without discounts, indicating standard equity dilution procedures. Remixpoint allocated the entirety of the newly-raised capital towards acquiring further Bitcoin.

This strategic move positions the company to nearly double its current Bitcoin treasury size to approximately 3,000 BTC, as it currently holds 1,051 BTC according to BitcoinTreasuries.NET, valued at around $113.8 million. The potential treasury value on this new allocation would significantly increase.

The company’s shift towards a Bitcoin treasury is part of a broader trend, with corporate holdings growing in tandem with the asset class’s establishment. It includes initiatives like Tashiro receiving his salary in Bitcoin, reflecting the company’s stated aim to align incentives with investors.

This momentum within the cryptocurrency treasury space extends beyond Japan. Earlier, French enterprise The Blockchain Group and British firm Smarter Web Company both acquired substantial BTC holdings, representing a broader global trend. Meanwhile, Metaplanet furthered this expansion by adding 2,204 BTC ($237 million). However, the field faces discussion regarding its longer-term survival, particularly as market gains become more challenging to replicate.