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DigitalX Limited is doubling down on its Bitcoin-first strategy after securing $20.7 million from a group of high-profile digital asset investors. The funding round was led by Animoca Brands, with Yat Siu—the company’s executive chairman—also joining the advisory board.
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The raise brought in capital from a group of well-known investors including UTXO Management, ParaFi Capital, and crypto insiders like Metaplanet CEO Simon Gerovich, who invested personally. However, Animoca Brands played the biggest role—not just as a lead investor, but as a strategic partner moving forward.
“Bitcoin is the reserve asset of Web3—digital gold,” said Yat Siu, who will also serve on the DigitalX advisory board. “We are excited to expand broader access to Bitcoin in Australia with DigitalX to help empower communities with the tools for digital ownership and financial sovereignty.”
Siu’s background brings considerable weight to the table. As co-founder of Animoca, he has built a Web3 empire with over 570 investments. He also advises the Hong Kong government on digital assets and helped launch a licensed stablecoin with Standard Chartered and HKT.
“I’m excited to join DigitalX’s Strategic Advisory Board. We believe Bitcoin is the digital gold and reserve asset of the decentralized era,” he added. “By leveraging our expertise in Web3 and DigitalX’s strong position in the Australian market, we aim to bridge traditional finance with the innovative potential of Bitcoin.”
DigitalX was one of the early public companies to get involved in Bitcoin, first listing as a mining company back in 2014. Over time, it has shifted focus from mining to building a long-term treasury strategy around Bitcoin.
Right now, the company holds 65 BTC directly and another 193 BTC through its ASX-listed ETF (BTXX). That adds up to roughly $43.3 million worth of Bitcoin. Once the capital raise is completed, DigitalX’s total assets—including Bitcoin, digital assets, and cash—will top $95 million.
About $19.7 million from the raise will go straight into growing its Bitcoin reserves. The rest will be used to cover placement costs and support operations.
Interim CEO Demetrios Christou called the raise a turning point. “The backing of these globally recognised leaders in the Bitcoin space not only provides the capital to expand our Bitcoin holdings but also provides invaluable strategic expertise and access to their networks.”
The placement was priced at $0.074 per share and included the option for attaching warrants (1 per 2 shares, exercisable at $0.15), subject to shareholder approval. UTXO Management will also gain the right to nominate one board member, while Animoca Brands receives a 3% advisory fee for their involvement.
The funding round attracted support not just from institutional investors, but also from leaders across the crypto space. Executives and founders from well-known Bitcoin-focused companies also joined the round, signaling strong confidence in DigitalX’s strategy.
Non-Executive Chairman Leigh Travers added, “It’s clear there’s very strong demand for a singular and focused digital asset treasury strategy centered on Bitcoin and listed on the ASX. We’re proud to welcome some of the largest and most well-regarded crypto investors in the space to our cap table.”
DigitalX also plans to keep expanding its Sell My Shares business and continue developing its Bitcoin ETF product alongside growing its core holdings.
A shareholder meeting is expected soon to approve the warrant structure and director participation terms.