Hong Kong-based food company DDC Enterprise Limited announced the completion of a $528 million capital raise to expand its Bitcoin treasury. The company plans to acquire 5,000 BTC over the next three years.
Traded on the NYSE American, DDC conducted three securities sales to fund the initiative. Participants in the fundraising included crypto-focused firms Anson Funds, Animoca Brands, and Kenetic Capital.
The capital raise involved $26 million from private equity financing, $25 million from convertible notes with an additional $275 million possible through future installments, and a $2 million private placement that secured a $200 million equity line of credit.
CEO and founder Norma Chu described the $528 million commitment as a milestone, stating the firm aims to build “one of the world’s most valuable corporate Bitcoin treasuries” and become a leading global Bitcoin holder.
Since launching its Bitcoin strategy earlier this year, DDC has acquired 138 BTC, valued at approximately $14.6 million as of June 12, buying at an average price of $78,582 per coin—below Bitcoin’s current trading price of over $105,000.
DDC will continue to operate its main convenience food business alongside its Bitcoin investments. Its portfolio features Asian-inspired ready-to-eat meals and brands including Omsom, Yai’s Thai, Nona Lima, and the recipe platform DayDayCook.
DDC’s shares recently traded at $10.59, down nearly 3% in the past day, according to Yahoo Finance.
This move follows a growing trend of publicly traded companies adopting a Bitcoin treasury strategy pioneered by software firm Strategy, founded by Michael Saylor. Since 2020, more than 140 public companies have collectively acquired nearly $91 billion in Bitcoin, with Strategy alone holding over $63 billion in the asset.
Companies have increasingly embraced this model as Bitcoin reached new highs above $100,000 this year.