Boyaa Interactive plans to spend no more than $70 million to acquire cryptocurrency.

On March 22, Boyaa Interactive (00434) announced that its board of directors recommends seeking shareholder approval for a purchase authorization. This authorization would allow the company to use idle cash reserves from its business operations for potential cryptocurrency purchases within the next 12 months, with a total amount not exceeding US$70 million. This initiative aims to leverage the current downturn in the cryptocurrency market, appropriately increase the company's cryptocurrency holdings, and further support the development of its Web3 business. As of the announcement date, the company held a total of 4,092 Bitcoins at an average price of approximately US$68,200; 302 Ethereums at an average price of approximately US$1,661; and approximately 7,000,700 Tethers. The Board plans to execute these cryptocurrency purchases on regulated trading platforms to ensure market liquidity and security.