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Investing.com -- Sky Quarry Inc. (NASDAQ:SKYQ) stock climbed 4.1% premarket after the integrated energy company announced a strategic initiative to establish a digital asset treasury as part of its capital allocation strategy.
The company said it is actively exploring how a targeted digital asset strategy can complement its existing business model, with the goal of strengthening its balance sheet and creating shareholder value. Sky Quarry has formed an internal working group and engaged industry advisors to develop this strategy.
According to the announcement, Sky Quarry is in early discussions to secure commitments for a diversified portfolio of digital assets, including digital currencies, stablecoins, and other blockchain-based instruments.
Marcus Laun, Executive Vice President and Co-Founder of Sky Quarry, noted that as regulatory frameworks mature and public companies apply governance standards to crypto projects, he expects "the digital treasury model to become a lasting part of public market strategy."
The company, which focuses on sustainable resource recovery, stated that it aims to position itself at the forefront of the energy transition by leveraging digital technologies. Sky Quarry’s initiative intends to improve transparency, capital efficiency, and build confidence in its financial foundation.
The firm indicated it will share additional updates on this initiative in the coming weeks.
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