TechFlow news, June 6 — According to Ming Pao Finance, Ritr Logistics Technology (NASDAQ: RITR) announced it has entered into an acquisition agreement with a Bitcoin institutional consortium to purchase up to 15,000 bitcoins, with the total transaction value reaching up to $1.5 billion. Payment will be made by issuing ordinary shares of the company to the consortium. The specific number of shares to be issued will be determined through mutual agreement, based on factors including the price of Bitcoin, the company's stock price, and trading volume.
Ritr Logistics stated that this strategic acquisition will establish the company's digital asset reserves, strengthen its balance sheet, and advance core business initiatives such as decentralized finance (DeFi) integration, logistics asset tokenization, and smart contract-driven supply chain solutions.
Mr. Chen Jianzhong, Chairman and CEO of Ritr Logistics Technology Holdings, said that adopting Bitcoin as a cornerstone of the company’s financial strategy will help lay the foundation for long-term development within the "Property + Logistics Technology" (PLT) ecosystem and lead the digitization of logistics.
