Mercurity Fintech plans to raise $800 million to establish a Bitcoin reserve.

Gate News bot message, New York fintech group Mercurity Fintech Holding (MFH) announced that it is raising $800 million to establish a Bitcoin reserve.

The company stated that the funds will support a multi-pronged strategy: acquiring Bitcoin, storing it in a blockchain-native custodial infrastructure, and integrating it into a system that includes tokenized treasury tools and staking services.

This means that Mercurity is not only betting on the BTC treasury but also trying to transform into a "reserve structure that can generate profits and aligns with blockchain technology."

CEO Shi Qiu stated: "Bitcoin will become an important part of the future financial infrastructure. We position the company as a key player in the ever-evolving digital financial ecosystem."

The company has not disclosed whether this financing will be conducted through debt, equity, or other financing mechanisms.

At the time of this financing announcement, Mercurity is about to be included in the Russell 2000 Index and the Russell 3000 Index.

MFH Operations focuses on Bitcoin and Filecoin cryptocurrency mining facilities. The company also develops liquid cooling solutions for artificial intelligence data centers and provides financial services for institutions and high net worth individuals.

Source: CoinDesk