On May 10, the US stock Next Technology Holding Inc surged 740% to $2.70 on Friday afternoon, as the company increased its holdings of bitcoin significantly in Q1.
According to information released by the company, as of March 31, 2025, it held about 5,833 bitcoins with a carrying value of $481.70 million, compared to only 833 bitcoins at the end of 2024. This increase is mainly related to a major cryptocurrency acquisition executed in March, which was financed through the issuance of shares and warrants.
Next Technology, which focuses on software development and bitcoin investments, also reported Quarter 1 net income of $193.40 million, almost all from unrealized gains on digital assets.
Next Technology's share price rose more than 700% due to a large increase in bitcoin holdings in Q1.
2025-05-10 02:13:22
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