Quantum Solutions (2338), an AI-focused company that is building Ether The Treasury, its Hong Kong subsidiary, GPT Pals Studio said, Bought 2,000.13 Ether On October 21 for $7.85 million.
The Tokyo-based company said it now holds 3,865.8 ETH, worth about $15.1 million, at an average cost of $4,101 per ETH. The purchase makes it the 11th largest ETH digital asset treasury (DAT) in the world and the second largest outside the US, according to CoinGecko data. The largest non-US DAT company, Shanghai-based Inchain, has more than double the number.
The purchase was financed through external borrowings and the proceeds from a recent stock acquisition rights and convertible bond issued on 14 October.
The company plans to continue accumulating digital assets, primarily Ether, to increase their long-term value.
Quantum Solutions stock is up 17% year to date.
Read more: A Japanese AI firm plans to buy 3,000 Bitcoin in the next 12 months