Hyper Bit Establishes Corporate Kraken Digital Asset Exchange Account for Crypto Purchases

Core Insights - Hyper Bit Technologies Ltd. has established a corporate digital asset account on the Kraken exchange to purchase cryptocurrencies, including Bitcoin, enhancing its cryptocurrency treasury holdings [1][2] - The company is optimistic about Bitcoin and the broader cryptocurrency market, aiming to build a diverse portfolio of top-performing crypto assets through strategic partnerships and financing [2] - Hyper Bit has entered into multiple debt settlement agreements to manage outstanding debts, including a total of C$600,054.00 through the issuance of units at a price of $0.18 per unit [3][4][5] Group 1: Corporate Developments - The establishment of a corporate account on Kraken allows Hyper Bit to systematically expand its cryptocurrency holdings, leveraging Kraken's position as a leading digital asset exchange [1][2] - The company has agreed to settle C$120,500.00 in outstanding bona fide debt through the issuance of 669,445 units, each consisting of a common share and a purchase warrant [2] - A second debt settlement agreement has been made to settle a loan of C$440,154.00 through the issuance of 2,445,300 units, also at a price of $0.18 per unit [3] Group 2: Financial Agreements - The third debt settlement involves C$39,900.00 owed to insiders, with C$30,450.00 owed to the CEO and C$9,450.00 to a director, settled through the issuance of units [4] - All debt settlements are subject to a four-month hold period from the date of issuance, pending approval from the Canadian Securities Exchange [5] - The board of directors approved the debt settlements, ensuring compliance with regulations regarding related party transactions [5] Group 3: Company Overview - Hyper Bit Technologies Ltd. focuses on the acquisition, development, and strategic deployment of crypto mining operations and blockchain innovations [6] - The company is a member of the Blockchain Association of Canada and the American Blockchain & Cryptocurrency Association, indicating its commitment to the crypto ecosystem [6] - Hyper Bit is publicly listed in Canada (CSE: HYPE), the USA (OTCID: HYPAF), and Europe (FSE: N7S0), enhancing its market visibility [7]