TechFlow News, February 13: According to disclosures by Gem Resources, a company listed on the London Stock Exchange, it has acquired nine bitcoins as reserve assets through its wholly owned subsidiary, Gem Resources Hong Kong Limited. The total acquisition cost was approximately USD 633,200, with an average price of approximately USD 70,355.56 per bitcoin (excluding transaction fees).
The transaction was executed via HashKey Exchange, a regulated digital asset trading platform in Hong Kong, and funded using the company’s existing cash resources. Including approximately USD 1,484.60 in transaction fees, the total expenditure amounted to USD 634,684.60.
Louis Ching, Executive Chairman of the company, stated that this transaction capitalized on the “recent pullback in bitcoin’s price” to establish a “modest and controllable position.”
