Business
Hyper Bit Executes Definitive Agreement to Purchase Bitcoin
Hyper Bit Executes Definitive Agreement to Purchase
About this update from Hyper Bit Technologies Ltd.
[{"type":"text","content":"Vancouver, British Columbia--(Newsfile Corp. - July 2, 2025) - HYPER BIT TECHNOLOGIES LTD. (CSE: HYPE) (OTC Pink: HYPAF) (FSE: N7S0) (the \"Company\" or \"Hyper Bit\") announces that further to its recent news dated June 18th 2025, it has entered into a Definitive Agreement with Bit Royalty, an arms length corporation, to acquire Bitcoin and various top crypto currencies as treasury assets. With the signing of this definitive agreement Bit Royalty has now completed the purchase of approximately .35 BTC and has made a second request for a draw of an additional $50,000 (total of $100,000 to date) to acquire Bitcoin in exchange for shares of the company. Based on the current market price of bitcoin (BTC), Hyper Bit has instructed Bit Royalty to acquire approximately 0.7 Bitcoin.Mr. Dallas La Porta, President, CEO and Director of Hyper Bit Technologies Ltd. stated: \"We continue to be bullish on Bitcoin and the crypto markets and are now moving to build our crypto treasury through strategic partnerships and financing, providing investors with comprehensive and compliant exposure to the crypto currency sector.\"About Bit Royalty Bit Royalty provides Hyper Bit with a credit facility of up to CAD $1,000,000.00 which may be advanced in one or more tranches, subject to mutual agreement. The proceeds shall be used by Hyper Bit to acquire various crypto currencies as treasury assets, both from Bit Royalty and-or directly through its own crypto wallet account. Drawdowns shall be made upon written notice by Hyper Bit and subject to customary conditions precedent agreed between the parties. The draw down credit facility will bear interest at 10% as stipulated in the binding LOI and will be converted to equity at Bit Royalty's direction.The scope of the agreement with Bit Royalty includes the ability of the Company to purchase a variety of cryptocurrencies as treasury assets.- HYPE: Hyper Liquid- BTC: Bitcoin- DOGE: Dogecoin- USDC: USDC- ETH: Ethereum- XRP: XRP- SOL: Solana- ADA: CardanoAny securities of the Company issued in connection with the facility will be subject to a statutory four-month-and-one-day hold period, in accordance with applicable securities laws, and a concurrent four-month hold period imposed under CSE policies, in each case, commencing on the date of issuance.About Hyper Bit Technologies Ltd. Hyper Bit Technologies Ltd. i...