Blue Hat Announced Execution of $66.49 Million Gold Acquisition

Core Viewpoint - Blue Hat Interactive Entertainment Technology has officially launched its gold supply chain business with a significant gold delivery of 1,000 kilograms, marking a strategic move into the precious metals market [1][2][3] Summary by Sections Gold Delivery and Business Launch - The company executed a gold delivery of 1,000 kilograms (approximately 2,204.62 pounds), officially initiating its gold supply chain business [1] - This delivery follows a framework agreement signed in October 2023 with Macau Rongxin Precious Metals Technology Co., Ltd [1] Gold Pricing and Financial Implications - The spot price for gold increased from approximately $61.14 per gram in October 2023 to approximately $80.61 per gram as of August 28, 2024 [2] - The purchase price for the delivered gold was approximately $66.49 per gram, totaling around $66.49 million [2] Strategic Goals and Market Position - The company aims to leverage the gold acquired to provide to refineries, wholesalers, and retailers, generating revenue and establishing a strong presence in the gold business [2] - The CEO emphasized that this delivery represents a crucial advancement in bulk commodity trading and strengthens the company's financial position, anticipating further growth and opportunities [3] - The proceeds from the gold delivery are expected to enhance the company's financial flexibility for further expansion in the precious metals market [3]