Boyaa Interactive has made nearly 50 million in unrealized gains from trading cryptocurrencies, and plans to further invest 100 million USD in BTC and ETH.

Chinese chess and card game developer, Hong Kong-listed company "Boya Interactive 00434.HK", after previously spending 100 million US dollars to buy cryptocurrency, is seeking board approval again to buy BTC and ETH in the next 12 months.

Game developer Boyaa plans to spend $100 million to buy BTC and ETH

Boya Interactive Plans to Further Invest $100 Million in Cryptocurrency

According to the official announcement, Boya Interactive stated that the main investment targets for this round will still be BTC and ETH. They will adjust the acquisition quantities of BTC and ETH in conjunction with the cryptocurrency market conditions and will make the acquisitions at the "most appropriate time," with the total amount not exceeding $100 million.

The acquisition of cryptocurrency will be funded by Boya Interactive Group's idle cash reserves. The official emphasized that the traditional business income of the group is sufficient to support daily operations and is profitable. The acquisition of cryptocurrency will not have a significant impact on the group's daily operations or related financial needs.

Including acquisition authorization, potential acquisition details, shareholder annual meeting notices, and other circulars, it is expected that they will be sent to shareholders by March 22 or earlier.

Boya's Floating Profit of $45.81 Million

The Boya Board of Directors sought approval from shareholders on November 13 of last year to purchase authorization for acquiring cryptocurrency within the next 12 months, with a total amount not exceeding $100 million as a principle.

Asset allocation and costs are as follows:

• 1,100 BTC at an average price of $41,790, with a floating profit of $28.76 million

• 14,855 ETH at an average price of $2,777, with a floating profit of $17.05 million

• Also holding 8 million USDT

The total floating profit has exceeded $45.81 million.

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