- Hyper Bit Technologies (OTC: HYPAF) has drawn a total of C$100,000 from its C$1,000,000 credit facility with Bit Royalty.
- The funds will be used to purchase approximately 0.7 Bitcoin as part of the company’s crypto treasury strategy.
- The credit facility bears a 10% annual interest rate and includes a C$5,000 custodial fee per transaction.
Hyper Bit Technologies Ltd. (OTC: HYPAF), a diversified technology company, has announced its second draw from the Bit Royalty credit facility, amounting to C$50,000, bringing the total to C$100,000. The funds from this facility are utilized to acquire approximately 0.7 Bitcoin as part of its crypto treasury strategy.
The agreement with Bit Royalty allows Hyper Bit to access up to C$1,000,000 in financing, which carries a 10% annual interest rate. This credit line is convertible into equity at Bit Royalty's discretion, providing Hyper Bit the flexibility to purchase top cryptocurrencies such as Bitcoin, Ethereum, Dogecoin, and others.
Each transaction under this facility includes a C$5,000 custodial fee, convertible into common shares of Hyper Bit. Securities issued under this agreement are subject to a statutory hold period of four months and one day, in accordance with Canadian securities laws.
According to Dallas La Porta, President, CEO, and Director of Hyper Bit Technologies, the company is strategically expanding its cryptocurrency treasury holdings and remains bullish on the potential of the crypto market. This initiative aligns with Hyper Bit's goal of maximizing growth through strategic partnerships and investments in digital assets. The company is publicly listed in Canada (CSE: HYPE), the USA (OTC Pink: HYPAF), and in Europe (FSE: N7S0).
