Bitcoin Japan Corporation has secured approximately ¥9.7 billion (nearly $60 million) in fresh funding and set aside ¥662 million ($4 million), about 7% of the total, for its first BTC purchase as part of its digital asset treasury strategy, CoinPost reported Friday.
The company plans to use the remainder to fund investments in private equity, rare earth mining and robotics.
Bitcoin Japan Corporation, formerly Hotta Marusho, pivoted from its legacy textiles and apparel business to become a Bitcoin treasury company in 2024, though it has yet to add any Bitcoin to its balance sheet.
The new fundraising effort comes after a previous capital raise missed its target, delaying planned BTC purchases. The proposal has drawn investor scrutiny because it could dilute existing shareholders by up to 110%, while the company is projected to record its eighth consecutive annual operating loss.
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