PANews reported on June 20 that K33 announced the successful completion of a private placement, raising a total of approximately 125 million Swedish kronor (approximately 11.5 million US dollars), and all the proceeds will be used to purchase Bitcoin as company assets. This is part of its Bitcoin reserve strategy, which aims to improve operating leverage, profit margins and institutional cooperation capabilities. The dilution ratio of this additional issuance is about 9%. The company plans to quickly accumulate 1,000 BTC.