China-based SOS Ltd. announced plans on Wednesday to invest $50 million in Bitcoin. The move places it among several companies integrating crypto into their financial strategies as digital assets gain traction among institutional players.

According to the company’s Chairman and CEO Yandai Wang, the decision reflects SOS’s belief in Bitcoin as a “store of value” and a strategic asset, he said in a statement.

“We believe this investment plan will further enhance the Company’s overall competitiveness and profitability in the digital asset investment sector,” Wang said.

Founded in 2001, SOS Ltd. is a multifaceted technology firm specializing in blockchain, crypto operations, commodity trading, and emergency rescue services. The company has a global presence and a market capitalization of approximately $13 million.

As of the start of this year, SOS has also actively expanded into crypto mining, deploying over 8,483 super-computing servers in Fort Stockton, Texas, and 810 in Wisconsin, achieving a combined hash rate of approximately 1.35 EH/s across its North American operations.

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Author: Sebastian Sinclair