Zhibao Technology Launches $154.7M Bitcoin Treasury, Joins Top Corporate Holders
Zhibao Technology Inc., a Shanghai-based digital insurance broker listed on Nasdaq, has launched a new Bitcoin treasury worth $154.7 million.
The company issued 442 million units at $0.35 each, combining one Class A ordinary share and a two-year warrant exercisable at the same price.
The total purchase price was satisfied through the contribution of 2,380 Bitcoins to Zhibao's wallet account based on a reference price of $65,000 per Bitcoin.
Zhibao plans to use the funds for general business expenses, business expansion, research and development, AI projects, and advancing its digital asset reserve strategy.
The company is now the 33rd-largest corporate Bitcoin holder, surpassing firms like Core Scientific Inc. and Cipher Digital Inc., according to bitcointreasuries.net.