The manufacturer of fitness equipment Interactive Strength (TRNR) said that he had concluded a securities purchase agreement to raise up to $ 500 million to buy fetch.ai fet token as cryptographic cash strategy.
The company listed at NASDAQ is already buying the tokens after collecting $ 55 million in new capital from Atw Partners and DWF Labs, he said in a shared statement with Coindesk.
“Digital assets quickly become an essential element of the global financial infrastructure and AI is the biggest technological leap in our lives,” CEO Trent Ward said in the press release. “We believe that our strategy to acquire a large number of FET $ tokens could significantly accelerate our mission to create an important long -term value for TRNR shareholders.”
The interactive force, the CLMBR manufacturer and the Form brand equipment, joins a long list of public enterprises in the United States which add cryptocurrencies to their balance sheets. Most, directed by Strategy (MSTR), are focused on Bitcoin
. None of these companies have acquired AI token like FET.
Trnr, who has a market capitalization of $ 8.4 million, will use Bitgo for trading and custody of his holding holdings, according to the press release. Its shares increased by 3.5% to 83 cents in pre-commercial trade.
