Yuant Tower Logistics plans to acquire up to 15,000 bitcoins for $1.5 billion in stock

ChainCatcher news, according to Ming Pao Finance, Yuta Logistics Technology (NASDAQ: RITR) announced that it has signed an acquisition agreement with a Bitcoin institutional consortium, which can acquire up to 15,000 Bitcoins through the issuance of the company's common stock, with a total amount capped at $1.5 billion. The final number of shares to be issued will be negotiated based on factors such as Bitcoin price, company stock price, and trading volume.

Yuta stated that this strategic acquisition will establish a digital asset reserve, enhance the balance sheet, and promote the development of decentralized finance, logistics asset tokenization, and smart contract-driven supply chain solutions. The company's chairman and CEO, Chen Jianzhong, pointed out that Bitcoin will serve as a pillar of financial strategy, helping the company achieve long-term growth in the "Real Estate + Logistics Technology (PLT)" ecosystem and seize the trillion-dollar opportunity of digitalizing the Asian supply chain.