Blue Hat Announces Execution Of $66.49M 1,000-Kilogram Gold Acquisition
Portfolio Pulse from Benzinga Newsdesk
Blue Hat Interactive Entertainment Technology (NASDAQ:BHAT) has executed a $66.49 million acquisition of 1,000 kilograms of gold, marking the launch of its gold supply chain business. This strategic move aims to establish a presence in the gold market by supplying gold to refineries, wholesalers, and retailers.
August 29, 2024 | 12:38 pm
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Blue Hat Interactive has acquired 1,000 kg of gold for $66.49M to launch its gold supply chain business. This move is expected to generate revenue by supplying gold to refineries, wholesalers, and retailers.
The acquisition of a significant amount of gold marks a strategic entry into the gold supply chain business for BHAT. Given the current higher spot price of gold compared to the purchase price, this move is likely to be profitable. The company's plan to supply gold to various market segments suggests potential revenue growth, positively impacting its stock price in the short term.
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