DigiAsia Eyes $100M Fundraise to Build Bitcoin Treasury, Shares Soar Over 90%

Shares of DigiAsia Corp (FAAS), a Singapore-based company targeting Southeast Asian markets, surged more than 90% on Monday following news that it intends to create a bitcoin treasury reserve.

The firm announced plans to raise as much as $100 million to fund its bitcoin accumulation strategy, joining a wave of public companies diversifying their corporate treasuries with crypto assets.

Though these plans remain exploratory rather than finalized, DigiAsia’s stock jumped 91% in regular trading, reaching 36 cents before giving back some gains after hours. Despite the rally, the stock has declined over 50% year-to-date.

The company’s board has approved a policy to dedicate up to 50% of future net profits toward bitcoin purchases, the release said, while actively pursuing fundraising options to support this goal.

DigiAsia also aims to generate yield from its bitcoin holdings through institutional lending and staking programs facilitated by regulated partners.

“Bitcoin offers a compelling long-term value proposition and serves as a key element for treasury diversification,” said Prashant Gokarn, Co-CEO of DigiAsia.

The company is considering various funding approaches including convertible debt and crypto-linked financial instruments to back the initiative.

In its latest update, DigiAsia reported $101 million in 2024 revenue and forecasted $12 million in earnings before interest and taxes for the year. The market reaction to the bitcoin treasury plans reflects investor optimism, though the execution timeline remains uncertain.