Remixpoint, a Japanese energy consulting firm, has approved a new 1 billion Japanese yen Bitcoin purchase, bringing its total crypto investment to roughly $84 million.
Japanese consulting firm Remixpoint has approved a new ¥1 billion (around $7 million) Bitcoin (BTC) purchase, bringing its total investment in crypto assets to ¥12 billion (approximately $84 million), the company said in a regulatory filing on Monday.
The company has already spent ¥10.5 billion out of ¥11 billion previously approved for cryptocurrencies, the filing reads. Remixpoint said the additional ¥1 billion in Bitcoin would be bought “while considering market conditions.” It didn’t specify a purchase date or expected price.
Remixpoint said it will continue to assess its crypto holdings every quarter, stating that the “balance of crypto assets held will be marked to market on a quarterly basis, and the resulting gains or losses will be recorded on the income statement.”
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Shares of Remixpoint jumped 5.26% following the announcement, closing at 580 yen on the Tokyo Stock Exchange.
Founded in 2004 and publicly listed since 2006, Remixpoint began as a software provider before expanding into electricity and automotive trading. The company has increased its exposure to cryptocurrencies over the past year, joining a small but growing group of Japanese firms adopting Bitcoin as part of their financial strategy.
In 2023, several local companies turned to crypto as a hedge amid economic uncertainty. Among them, Metaplanet has emerged as one of the country’s largest corporate holders of Bitcoin, with 1,142 BTC now valued at over $125 million.
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