BRIEF: Boyaa buys an additional $28 million worth of bitcoin

Online game developer Boyaa Interactive International Ltd. (0434.HK) said on Tuesday it bought 245 bitcoins between Sept. 15 and 16 for a total of HK$219 million ($28.16 million).

It funded the purchases mainly using proceeds from several recent share placements this year. As of the announcement date, Boyaa held 3,925 bitcoins, which it purchased for an average of $66,094 per coin.

The company said its latest purchase reflects a sustained investment commitment to Web3 gaming development and Web3 infrastructure R&D, aiming to bolster its core strategic reserves while continuing project investments and strategic collaborations within the space.

Shares of Boyaa opened up 1.2% at HK$7.40 on Wednesday. The stock is up 90% over last six months.

By Lau Chi Hang

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