Nasdaq-listed Zeta Network raises $230M in Bitcoin-backed private sale
The company accepted Bitcoin and SolvBTC from investors in a private share deal, adding crypto assets to its corporate treasury.
Zeta Network Group said on Wednesday that it raised about $230.8 million through a private share sale, with investors paying in Bitcoin (BTC) or SolvBTC — a wrapped Bitcoin-backed token issued by Solv Protocol.
Under the deal, investors will receive newly issued Class A ordinary shares and warrants allowing them to buy additional shares later at $2.55 each. Each share and warrant pair was sold at a combined price of $1.70.
According to Zeta, the arrangement will strengthen its balance sheet with Bitcoin-based assets as part of a broader treasury strategy. “By integrating SolvBTC into our treasury, we’re enhancing financial resilience with an instrument that combines Bitcoin’s scarcity with sustainable yield,” said Patrick Ngan, Zeta Network’s chief investment officer.
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