Japan’s Remixpoint exits ETH, SOL, XRP and DOGE to focus on Bitcoin
Remixpoint said it made the decision after considering cryptocurrency market conditions, the risk-return characteristics of individual assets and its financial strategy.
Remixpoint has exited its altcoin investments, selling all of its Ethereum, Solana, XRP and Dogecoin and shifting its crypto holdings to Bitcoin as the Japanese company seeks to streamline its investment strategy.
The Tokyo-listed firm said Tuesday it liquidated its altcoin holdings for ¥878.8 million, or approximately $5.5 million, as part of a review of market conditions, asset-specific risk and returns, and its overall financial strategy.
The move generated roughly $737 million in gains, with ETH delivering the biggest gain ahead of SOL and XRP, while DOGE ended in a loss.
Remixpoint has pivoted toward becoming a Bitcoin treasury and digital-asset management company after initially building its business around energy and automotive services.
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The company now holds only Bitcoin, with approximately 1,506 BTC, allowing it to concentrate its crypto portfolio on its preferred asset and improve capital efficiency.
Beyond holding Bitcoin, the company has been generating additional income by lending out part of its BTC holdings and collecting lending fees. Its Bitcoin lending activity expanded during the year, with lending principal remaining in place through the end of August.
Remixpoint said the gain from its altcoin sales will be recognized as business-division revenue in the second quarter of fiscal 2027, while the proceeds could be used to expand its growth businesses, including grid-scale battery storage, reinforce its financial position and support shareholder-value initiatives.