Tokyo-based energy company Remixpoint raised 31.5 billion yen (around $215 million) to expand its Bitcoin treasury, according to a Wednesday announcement.
Remixpoint will allocate the newly raised funds entirely to Bitcoin (BTC) acquisition, the company said in an X post. The funds were raised through Remixpoint’s 25th series of stock acquisition rights and fourth series of unsecured bonds, according to local media outlet CoinPost.
This series of stock acquisition rights will create 55 million new shares, representing a 39.9% dilution. The issuance is made without any discount and is conducted at market price.
The post also states that the firm aims for its reserve to reach 3,000 BTC in the near term. Remixpoint is currently the 30th largest corporate Bitcoin treasury with a balance of 1,051 BTC, worth more than $113.8 million, according to BitcoinTreasuries.NET data.
The news follows a Tuesday announcement that Remixpoint CEO Takashi Tashiro will be paid in Bitcoin as part of stated efforts to be “in the same boat” as shareholders. The company is a Tokyo-listed energy and fintech firm that pivoted to accumulating Bitcoin.
“We have become even more convinced of Bitcoin’s future, and this decision is the result of extensive discussions,” the company said on Tuesday.
Related: Few Bitcoin treasury companies will survive ‘death spiral’: VC Report
The company’s board unanimously approved the investment strategy, citing the potential to enhance corporate value from a risk-return perspective while preserving future flexibility:
“We understand the difference between seizing opportunities and playing it safe, as well as the distinction between a challenge and recklessness.“
Related: New Bitcoin treasuries may crack under price pressure
The Bitcoin treasury space is getting crowded
The number of corporate Bitcoin treasuries continues to grow, likely driven by the success of early adopters and market dynamics. The world’s first Bitcoin treasury company, Strategy, was expected to report more than $13 billion in unrealized gains on its Bitcoin holdings for the second quarter of 2025, but reported $14 billion in unrealized gains on Monday.
Metaplanet, Japan’s top corporate Bitcoin treasury company, acquired another 2,204 Bitcoin for $237 million on Monday. On Tuesday, the firm’s CEO also stated that the company is exploring the acquisition of a digital bank to expand its operations further.
Also on Tuesday, two European companies — France’s The Blockchain Group and the United Kingdom’s Smarter Web Company — expanded their Bitcoin holdings by 116 BTC and 226.42 BTC, respectively. Despite the flurry of activity, not everyone is convinced that this is a winning bet.
Glassnode lead analyst James Check suggested last week that the Bitcoin treasury strategy may not have the longevity many expect. According to him, the easy upside may already be behind new companies entering the space and highlighted lower investor interest. “Nobody wants the 50th Treasury company,” he said.
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