Tian Ruixiang enters equity-linked deal for up to 15,000 BTC
Tian Ruixiang Holdings Ltd (Nasdaq: TIRX) announced a strategic agreement under which an unnamed investor would contribute 15,000 Bitcoin (BTC) in exchange for an equity position in the company. Based on Bitcoin’s price of about $75,000 at the time of writing, the proposed contribution is valued at roughly $1.1 billion.
The agreement also outlines a strategic collaboration centered on artificial intelligence and digital asset initiatives. Plans include establishing a joint innovation lab to develop AI-driven trading and risk management tools, as well as blockchain infrastructure, decentralized applications, and products across layer-2 networks, DeFi and nonfungible tokens.
The company identified the counterparty only as a global digital asset investor with experience in cryptocurrency and technology markets. Tian Ruixiang did not provide details on timing, custody, or settlement mechanics for the transaction.
Founded in 2010, Tian Ruixiang operates as an insurance brokerage in China through its subsidiaries, offering property and casualty insurance services.
The company’s shares rose about 190% in early trading after the announcement, according to Yahoo Finance, resulting in an intraday market capitalization of about $9.5 million, which remains well below the implied value of the proposed Bitcoin contribution.
Source: Yahoo Finance
If completed and the company receives 15,000 BTC, Tian Ruixiang would rank as the eighth-largest publicly listed Bitcoin treasury holder. For comparison, Coinbase holds 14,548 BTC and Riot Platforms holds 18,005 BTC, according to BitcoinTreasuries.NET.
The announcement follows a Jan. 30 disclosure that Tian Ruixiang was in advanced discussions to acquire an unnamed Hong Kong–based insurance brokerage specializing in AI- and crypto-enabled wealth management.
Bitcoin treasury companies in the red as market weakens
Nearly 200 publicly traded companies currently hold Bitcoin on their balance sheets, with combined holdings of about 1,135,671 BTC. Following Bitcoin’s recent pullback, several firms with treasury positions are facing unrealized losses.
Strategy, which began accumulating Bitcoin in August 2020, reports an average purchase price of $76,052 per BTC. With Bitcoin dipping below $75,000 at the time of writing, the position is currently below cost.
Twenty One Capital, co-founded by Jack Mallers, launched its treasury in April and holds 43,514 BTC, making it the third-largest Bitcoin treasury. The firm last reported an average acquisition cost of $87,280 per BTC.
Top 20 Bitcoin treasury companies. Source: Bitcointreasuries.NET
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