Tokyo Firm Sells Ethereum Holdings to Fund AI Data Centers
Quantum Solutions, a Tokyo-based company listed on the Tokyo Stock Exchange, has sold part of its Ethereum (ETH) holdings to finance its AI infrastructure data center business. On July 30, its subsidiary GPT Pals Studio sold 1,000 ETH at $1,903 per token, generating $1.9 million in revenue.
The sale is expected to result in a loss on the company's balance sheet of approximately ¥17 million (around $100,970 USD) due to the lower sale price compared to its book value of $2,003.97 per ETH.
Quantum Solutions had initially approved sales of up to 1,875 ETH on June 4, but after selling 904 ETH on June 16, it added an additional 2,500 ETH to the limit through a written resolution on July 30, increasing the total limit to 4,375 ETH.
The company's holdings have decreased from 6,749.80 ETH in June to 4,764.80 ETH after selling 1,904 tokens since then. However, 3,050 of these tokens remain as collateral with a Singapore-based lender since April, leaving only 1,714.80 ETH available for trading.