SINOHOPE TECH (01611) Plans to Purchase Up to $5 Million Worth of Bitcoin

Stock News11-25

SINOHOPE TECH (01611) announced that its board of directors, after a comprehensive analysis of market conditions, industry trends, and the group's business and development strategy, has determined that Bitcoin, as a benchmark asset in the cryptocurrency sector, holds strong long-term investment value following recent market adjustments.

Accordingly, the board has approved a plan to purchase up to $5 million (approximately HKD 39 million) worth of Bitcoin on public cryptocurrency trading platforms. The investment cost will be determined based on Bitcoin's prevailing market price and will be funded using the group's internal resources. This potential investment is intended to diversify the group's asset allocation.

The group will assess market performance and price movements to determine the optimal timing and quantity for Bitcoin purchases. As of the announcement date, the group has already acquired approximately 24.29 units of Bitcoin at an average price of $82,338, totaling around $2 million (approximately HKD 15.6 million).

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