Nasdaq’s DigiAsia targets $100 million fundraising to increase its Bitcoin holdings.

DigiAsia Shares Surge Over 90% Amid Plans to Raise $100 Million for Bitcoin Treasury

Singapore-based DigiAsia Corp (FAAS), focused on Southeast Asian markets, saw its stock soar by more than 90% on Monday after announcing intentions to build a substantial bitcoin treasury reserve.

The company revealed it is exploring a capital raise of up to $100 million to fund bitcoin purchases, joining a growing group of publicly traded firms seeking to diversify their balance sheets with cryptocurrency.

While these plans are still in the exploratory phase, DigiAsia’s shares jumped 91% during regular trading to 36 cents before pulling back slightly after hours. The stock remains down over 50% year-to-date.

According to a company statement, DigiAsia’s board has approved a strategy to allocate as much as 50% of future net profits toward bitcoin acquisitions. The firm is also evaluating funding options such as convertible notes and crypto-linked instruments to support the initiative.

Additionally, DigiAsia plans to enhance returns by deploying yield-generating strategies on its bitcoin holdings, including institutional lending and staking through regulated partners.

“Bitcoin represents a strategic long-term investment and a critical pillar for modern treasury diversification,” said Co-CEO Prashant Gokarn.

In its recent financial update, DigiAsia reported $101 million in revenue for 2024 and projected $12 million in EBIT. The company’s bitcoin plans have sparked renewed interest among investors, signaling optimism despite broader market challenges.