Boyaa Interactive International, a Hong Kong-based Web3 gaming company, is seeking shareholder approval to expand its crypto treasury with up to $70 million in purchases over the coming year.
In a Sunday statement, the firm said it plans to deploy “idle cash reserves during periods of weakness in the cryptocurrency market” to grow its existing holdings and support research and development for its Web3 gaming initiatives.
If approved, the company intends to invest in crypto assets with strong liquidity, large market capitalization, broad market recognition, and long-term holding potential.
The proposed $70 million expansion would add to Boyaa’s nearly $3 billion treasury, which includes 4,091 Bitcoin and 302 Ether.
The move comes as the crypto sector faces a prolonged downturn, with the market down roughly 45% since October and increasing skepticism around the long-term viability of corporate crypto treasury strategies.
Outside of firms like Strategy and Bitmine Immersion Technologies, few companies have maintained consistent crypto buying in recent months, while several Bitcoin miners have reduced their holdings.
Despite the challenging environment, Boyaa remains a major corporate holder of Bitcoin. After purchasing $80.5 million worth of BTC between August and November, it now ranks as the 23rd-largest corporate Bitcoin treasury globally and the third-largest in the Asia-Pacific region—behind Metaplanet and Next Technology Holding.
Boyaa Interactive International began shifting from traditional online card and board games into Web3 gaming in late 2023, building blockchain-based games and supporting infrastructure. As part of that transition, the company made its first Bitcoin purchase in January 2024.
Among its offerings is a Web3 adaptation of its early-2000s Texas Hold’em platform, now featuring Bitcoin rewards and other crypto-based prizes.
