Jiuzi Holdings raises funds through 100 bitcoin private placement

Jiuzi Holdings, Inc. (NASDAQ: JZXN) completed a private placement transaction settled with 100 bitcoin, according to a company statement. The new energy infrastructure services provider said the funds will support development of a digital asset custody platform and encrypted storage systems.

The company plans to allocate the bitcoin-denominated funds toward research and development of blockchain technologies, including secure multiparty computation and zero-knowledge proofs. CEO Tao Li said the transaction framework was signed on October 7.

Jiuzi Holdings operates charging networks in third- and fourth-tier cities in China, specializing in high-power DC fast charging stations integrated with energy storage systems. The company is developing a Smart Energy Cloud Platform designed to connect charging facilities with power grid systems through Internet of Things technology.

The company stated it will use proceeds from the private placement to begin research and development testing for cross-border digital payment solutions. Jiuzi Holdings described the transaction as combining traditional equity financing with digital assets.

The company reported its stock price has shown an upward trend since the transaction framework disclosure, trading at a premium to its closing price before the announcement.

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