- Hyper Bit Technologies Ltd. initiates a $50,000 draw to purchase Bitcoin from a CAD $1,000,000 credit facility.
- The credit facility carries a 10% annual interest and can be converted to equity at Bit Royalty's discretion.
- Funds will be used for purchasing Bitcoin, Dogecoin, and other cryptocurrencies as treasury assets.
Hyper Bit Technologies Ltd. (HYPAF, Financial), a forward-thinking leader in the crypto sector, has announced the execution of its first draw of $50,000 from a CAD $1,000,000 credit facility provided by Bit Royalty. This draw will facilitate the purchase of Bitcoin, with future draws planned to strategically acquire additional cryptocurrencies like Dogecoin.
This financial facility is structured to bear an annual interest rate of 10% and allows for conversion to equity at the discretion of Bit Royalty. It permits Hyper Bit to make multiple draws, fostering flexibility in their investment strategy. CEO Dallas La Porta is optimistic about the cryptocurrency markets and plans to expand Hyper Bit's mining operations to include various cryptocurrencies, particularly focusing on Dogecoin, Litecoin, and Alleocoin.
The strategic move includes opening a corporate CoinBase account to manage these acquisitions, indicating a robust approach to enhancing their treasury assets. The company is also gearing up for Dogecoin mining operations, projecting growth in the cryptocurrency sector by leveraging strategic partnerships and financing routes.
All securities issued under this credit facility are subject to a statutory holding period of four months and one day. Hyper Bit (HYPAF, Financial) is publicly listed on CSE: HYPE, OTC Pink:HYPAF, and FSE: N7S0, and remains committed to driving growth through innovative crypto-mining operations and blockchain developments.
