Investing.com — Bgin Blockchain Inc (NASDAQ:BGIN) stock rose 4% in after-hours trading Thursday following the announcement that two company directors had purchased additional shares in the open market.
The digital asset technology company revealed that board chairman and co-founder Oisin Li acquired 60,000 Class A ordinary shares at an average price of $3.7 per share. Additionally, independent director Paul Tsang purchased 8,100 Class A ordinary shares at an average price of $2.85 per share.
The company, which specializes in cryptocurrency mining technologies and manufactures mining hardware, indicated that these insider purchases demonstrate continued confidence in BGIN’s long-term business prospects.
“My decision to invest further aligns with my strong conviction in BGIN’s direction and its long-term potential. We are actively strategizing to become an infrastructure player within the Bitcoin ecosystem,” said Li in a statement. He added, “Together with Paul, I see a notable gap between today’s price and the long-term future value I am confident the Company can achieve.”
The insider buying comes as cryptocurrency-related stocks have experienced significant volatility in recent months, tracking the fluctuations in Bitcoin and other digital assets.
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