Neptune Digital expands crypto holdings with BTC and DOGE purchases

Neptune Digital expands crypto holdings with BTC and DOGE purchases

Neptune Digital Assets Corp., a prominent Canadian blockchain company, has announced the acquisition of 20 additional Bitcoin (BTC) and 1 million Dogecoin (DOGE), further bolstering its cryptocurrency portfolio. The Bitcoin purchase, made between January 26 and February 3, 2025, was conducted at an average price of $99,833 per BTC, amounting to approximately $2 million USD. This new acquisition brings Neptune's total Bitcoin holdings to 376 BTC.

Additionally, Neptune expanded its portfolio by acquiring 1,000,000 DOGE tokens in a strategic derivative transaction on December 27, 2024, at an average price of $0.37 USD per DOGE.

Neptune’s CEO, Cale Moodie, emphasized the company's long-term growth strategy, stating, "With a strong focus on BTC, these acquisitions demonstrate Neptune’s commitment to its growth plans while carefully managing leverage risks and maintaining prudent debt levels."

This move is part of Neptune’s ongoing efforts to increase its Bitcoin holdings through direct purchases, derivative trading, converting staking rewards into Bitcoin, and participating in Bitcoin mining. The company is also making strides in advancing its partnerships and investments in various cutting-edge technology projects, including digital assets, fintech, and even space exploration.

Neptune Digital Assets Corp., one of Canada's pioneering publicly traded blockchain companies, continues to be a market leader in the digital asset space. The company builds and operates infrastructure that supports the digital currency ecosystem, including Bitcoin mining, proof-of-stake mining, blockchain nodes, and decentralized finance initiatives.

These recent acquisitions align with broader trends seen in the crypto industry, with companies like MicroStrategy and Genius Group also strategically increasing their Bitcoin reserves as part of their financial strategies.