Finance, Shenzhen, China, Bitcoin Treasury Reserve Asset, Digital Asset Treasury, News The Shenzhen, China-based company’s board approved an initiative to convert up to 20% its cash and cash equivalents into bitcoin and other digital assets
Aurora Mobile (JG), a Nasdaq-listed marketing technology provider, is the latest publicly traded company to plan a treasury strategy that includes cryptocurrency investments.
The Shenzhen, China-based company’s board approved an initiative to convert up to 20% its cash and cash equivalents into BTC and other digital assets. The investments may include bitcoin BTC, ether ETH, Solana’s sol SOL and sui SUI among other tokens, it said Wednesday.
Aurora aims to “preserve and enhance asset value while supporting its strategy to expand market coverage,” it said in a statement.
In its latest quarterly earnings report, Aurora reported cash, cash equivalents and restricted cash totaling 113.6 million yuan ($15.8 million), suggesting it could invest some $3 million in bitcoin and other crypto.
The strategy emulates that of multiple other companies that have revealed plans to acquire bitcoin in recent weeks.
The company’s shares jumped in pre-market trading following the announcement, trading nearly 10% higher at $12.10.
Read More: Deep Sea Mining Firm Goes Deep on Bitcoin With $1.2B BTC Treasury Plan
CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data Read More