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LOUISVILLE, CO - CEA Industries Inc. (NASDAQ:BNC) announced Tuesday it now holds 480,000 BNB tokens with an average acquisition cost of $860 per token, representing a total investment of approximately $412.8 million. The company’s stock has shown remarkable momentum, gaining over 20% in the past week, according to InvestingPro data.
The company reported that its BNB holdings are currently valued at approximately $585.5 million, based on prices as of Monday. CEA Industries also maintains approximately $77.5 million in cash and cash equivalents, bringing its total crypto and cash holdings to $663 million. While the company has demonstrated strong revenue growth of 22.7% over the last twelve months, InvestingPro analysis indicates the company’s overall financial health score remains in the weak category.
According to the company’s statement, BNB token reached an all-time high of $1,236.74 on Monday, with its market capitalization exceeding $175 billion. This places BNB’s market value above Solana’s $127 billion and approaching the market caps of Tether and XRP, which stand at approximately $177 billion and $178 billion respectively.
"BNB’s all-time highs are a clear validation that the global markets are waking up to the inherent value, credibility, scale, and utility of both the asset and underlying ecosystem," said David Namdar, CEO of CEA Industries, in the press release.
The company describes itself as "the world’s largest BNB treasury company" and states it aims to own 1% of the total BNB token supply by the end of 2025. CEA Industries positions its strategy as focusing exclusively on BNB, distinguishing itself from diversified digital asset treasuries. InvestingPro subscribers can access 12 additional key insights about CEA Industries, including detailed valuation metrics and growth forecasts.
CEA Industries is listed on the Nasdaq under the ticker BNC and describes itself as a growth-oriented company focused on building the world’s largest corporate treasury of Binance Coin.
The information in this article is based on a company press release statement.
In other recent news, CEA Industries Inc. has announced several significant developments. The company completed a $500 million private placement, which could potentially yield up to $1.25 billion in gross proceeds if all associated warrants are exercised. Furthermore, CEA Industries has initiated a $250 million stock repurchase program, allowing for flexibility in repurchasing through various market methods. In alignment with its Digital Asset Treasury strategy, the company has added $26 million in BNB tokens to its corporate treasury, bringing its total holdings to 418,888 BNB, valued at $368 million. CEA Industries has also filed a shareholder letter and registration update with the SEC, covering securities issued in its recent private investment in public equity transaction. Additionally, the company announced the resignation of director Alexander Monje and appointed Russell Read to the board as his successor. These developments reflect CEA Industries’ strategic moves in asset management and corporate governance.
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