TechFlow, December 1 — According to CoinDesk Japan, Japanese listed company Remix Point announced it has canceled its previously planned investment of 1.2 billion JPY into Web3.0-related ventures, redirecting the funds toward investments in battery storage and energy businesses.
The company had initially intended to enter the validator node business through a partnership with blockchain validator operator Omakase, focusing on networks using the Proof-of-Stake (PoS) consensus mechanism. However, it stated that under current business conditions, it is difficult to identify high-quality investment opportunities in the short term that meet its criteria of "high growth potential" and "appropriate balance between expected returns and risks."
Notably, the company underwent management changes at the end of September, with CEO Takashi Tashiro—driving force behind the Web3 initiatives—resigning after only three months in office, while Yoshihiko Takahashi resumed his role as CEO. Additionally, the company has completed its plan to purchase Bitcoin worth 4.7 billion JPY and decided in October to halt new share issuances aimed at raising funds for cryptocurrency acquisitions.
