Fragbite Group AB (publ) ("Fragbite Group" or the "Company") has completed a purchase of approximately 2.5 bitcoin at an average price of USD 121 113 per bitcoin, moving the Company's holdings to a total of 9.5 and towards the announced financial target of 100 bitcoin by end of 2025.
Fragbite Group has completed a purchase of approximately 2.5 bitcoin at an average price of approximately USD 121 113. The purchase brings the Company's total holding to 9.5 bitcoin purchased at an average price of USD 116 681.
"Fragbite Group is moving strongly in accordance with the stated target of accumulating 100 bitcoin by the end of the year. This is the early stages of our Bitcoin journey, but we have a clear ambition and the positive response that the Company has received from shareholders and partners is very pleasing to see. We are rapidly expanding our access to advantageous financing solutions and are currently in promising negotiations which we expect to update the market with soon," says Patrik von Bahr, Bitcoin Treasury Director, Fragbite Group.
Yesterday Fragbite Group announced the adoption of a new financial target of holding 100 bitcoin by the end of 2025, alongside the intent of updating all financial targets during the beginning of fall. LINK
The decision to introduce Bitcoin to the balance sheet reflects the Company's belief in its potential as a long term value preserver and strategic asset for Fragbite Group's future growth. With Bitcoin as a leverage that grows over time, the Company intends to strengthen its capital structure and create shareholder value.
For questions, please contact:
Erika Mattsson, Chief Communications Officer
ir@fragbitegroup.com
Phone: +46 8 520 277 82
Redeye AB is the Company's Certified Adviser.
About us
Fragbite Group (publ) is a Swedish corporate group with a portfolio of established subsidiaries that develop, adapt and publish games and esports content within GAMING, ESPORTS and WEB3. Our products are developed for both traditional platforms - PC, mobile and console - and modern platforms built on blockchain technology. The Group is headquartered in Stockholm and listed on Nasdaq First North Growth Market.
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