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NEW YORK - Mercurity Fintech Holding Inc. (NASDAQ:MFH), whose stock has declined over 44% in the past week according to InvestingPro data, announced Tuesday a share repurchase program of up to $10 million over the next 12 months.
The blockchain technology company said the repurchases may be executed through open market transactions, privately negotiated transactions, or other legally permissible means, subject to market conditions and applicable securities laws.
The company noted that the repurchase program may be suspended or discontinued at any time at its discretion.
Mercurity Fintech, which describes itself as a developer of blockchain-native treasury strategies and digital asset infrastructure, is currently working on multi-chain treasury infrastructure with a focus on Solana and Bitcoin ecosystems.
The company stated it is developing on-chain infrastructure to support programmable treasury reserves, real-time capital deployment, and decentralized liquidity strategies.
Mercurity Fintech operates through subsidiaries including Chaince Securities, LLC, offering services in digital asset management, financial advisory, and capital markets solutions.
The announcement was made in a company press release.
In other recent news, Mercurity Fintech Holding Inc. announced a registered direct offering expected to raise approximately $43.7 million. The company will issue 12,485,715 ordinary shares and an equal number of warrants, with both priced at $3.50 per share. Additionally, Mercurity Fintech has entered into a $200 million Equity Line of Credit Agreement with Solana Ventures Ltd., which aims to implement a Solana-based digital asset treasury strategy. The company also launched a $500 million DeFi Basket Treasury to expand its on-chain strategy and diversify its treasury holdings, focusing initially on Solana. Furthermore, Mercurity Fintech plans to raise $800 million to establish a Bitcoin treasury reserve, integrating these holdings into a digital reserve framework. In another significant development, the company has formed a strategic partnership with SBI Digital Markets. This collaboration aims to promote the adoption and global distribution of tokenized real-world assets through compliant investment solutions.
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