Remixpoint Abandons Altcoins, Focuses on Bitcoin
Japan-listed digital asset treasury company Remixpoint has made significant changes to its cryptocurrency portfolio. The company sold all of its ETH, XRP, SOL, and DOGE holdings, leaving Bitcoin as its sole crypto asset.
The sale generated ¥878.81 million ($5.5 million) in revenue, with a net profit of ¥117.77 million ($737,000). Remixpoint made profits from the sales of 901.45 ETH for ¥353.43 million and 13,920.07 SOL for ¥227.89 million.
The company said it considered market conditions, risks, and its financial strategy before selling all of its altcoins. It now holds around 1,506 BTC, making it the third-largest publicly listed Bitcoin holder in Japan.
Remixpoint plans to use the proceeds from the sale mainly for its energy business and balance sheet. The company will buy and deploy large-scale electricity storage batteries as part of its expansion into the energy infrastructure sector.