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Key Notes
- Profusa raised $100 million to create a Bitcoin treasury firm.
- The health tech company is partnering with Ascent to make this happen.
- Mercurity Finance secured $200 million from Solana Ventures to expand in the Solana ecosystem.
Profusa, a company focused on advanced health monitoring technology, has decided to begin investing in Bitcoin BTC $118 307 24h volatility: 0.4% Market cap: $2.35 T Vol. 24h: $42.03 B . This move comes through a new agreement with Ascent Partners Fund LLC.
The health technology firm is planning on creating a Bitcoin-focused treasury plan through a funding arrangement. Under the deal, Ascent intends to invest up to $100 million in the company’s common shares.
All net funds raised, assuming the company holds over $5 million in cash at the time of each investment, will go directly toward buying Bitcoin, which may also be used to pay down existing debt.
Profusa has a deal that lets it sell shares to Ascent at a small discount based on recent stock prices. For each sale, the price will be 97% of the lowest average price over the five days after the sale is requested.
The most the company can sell at a time is either $5 million or an amount equal to its recent average daily trading volume, whichever is less.
Dr. Ben Hwang, Chairman and CEO of Profusa, stated that the company sees smart resource management as important to offering long-term value for shareholders.
He noted that in the current economic environment, adding Bitcoin to the company’s balance sheet is a strategic step to preserve value and be in line with the digital future.
Hwang also expressed enthusiasm about partnering with Ascent to create a cost-effective and efficient Bitcoin strategy that supports Profusa’s mission.
Profusa is following other public companies like Metaplanet by becoming a Bitcoin treasury firm. Metaplanet raised funds through bonds and share sales to buy Bitcoin, with Fidelity recently becoming its largest shareholder by acquiring a 12.9% stake.
Mercurity Fintech Gets $200 Million Strategic Investment
A blockchain fintech company, Mercurity Fintech Holding Inc. announced a $200 million deal with Solana Ventures Ltd. to start a new digital asset plan using the Solana SOL $185.7 24h volatility: 4.6% Market cap: $99.82 B Vol. 24h: $15.12 B blockchain.
This move will make MFH a key player in the Solana network, expanding beyond fintech to manage digital assets.
With Solana’s recent spotlight on tokenized treasuries and $1 billion USDC minted by Circle, the company aims to grow its SOL holdings, earn income through staking and validator nodes, and invest in projects involving real-world assets and finance.
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