CIMG Inc raises $55M for Bitcoin as crypto firms ramp up crypto stockpiles

CIMG Inc. has raised $55 million in a share sale to expand its holdings by 500 Bitcoin, as Strategy and Metaplanet earmarked more crypto buys.

Digital health and sales development firm CIMG Inc. has raised $55 million in a share sale to expand its crypto treasury, adding to the list of firms raising money for crypto so far this week.

CIMG said on Tuesday that it issued 220 million common shares in exchange for 500 Bitcoin (BTC) to expand its reserve holdings as part of its “financial management strategy.” 

It comes after another major Bitcoin purchase by Michael Saylor’s Strategy, and Japan’s Metaplanet signalled further acquisitions after amending its capital structure.

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