Boyaa Interactive Buys About 205 Bitcoins For HK$110 Million

Boyaa Interactive (00434) said it bought about 205 bitcoins in the open market between June 24 and last Friday for total consideration of about HK$110 million, according to ETNet. The company said it held about 4,316 bitcoins as of last Friday, with an average purchase cost of about $68,000 per coin. The purchases were funded by idle cash from business operations and were based on the market bid and ask prices for bitcoin. Boyaa also said it advanced its Web3 strategy in the first half of the year, with the bitcoins gradually deployed to Web3 projects as planned. Its Boyaa Chain project went live in the second quarter and received an additional 1,000 bitcoins for blockchain network staking to help support network operations.