Next Technology's share price in the US stock market rose by more than 700% due to its massive increase in Bitcoin holdings in Q1
05-10 02:10
Odaily News Next Technology Holding Inc surged 740% to $2.7 on Friday afternoon as the company increased its holdings of Bitcoin in Q1. According to information released by the company, as of March 31, 2025, it held approximately 5,833 Bitcoins with a book value of $481.7 million, compared with only 833 Bitcoins at the end of 2024. The increase was mainly related to a major cryptocurrency acquisition executed in March, which was financed by issuing shares and warrants. Next Technology, whose business focuses on software development and Bitcoin investment, also reported a first-quarter net income of $193.4 million, almost all of which came from unrealized gains on digital assets.
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