AIXC exits crypto treasury strategy, sells bitcoin and ether to pivot to robotics

AIXC, a Nasdaq-listed microcap company, has sold all of its digital assets and ended its cryptocurrency treasury strategy.

On Sept. 4 local time, blockchain outlet U.Today reported that AIXC disclosed its plan to sell assets and restructure its business in an amended S-1 filing submitted to the U.S. Securities and Exchange Commission (SEC).

The core is locking in losses and changing the business focus. AIXC management said it posted about 50 percent unrealised losses in managing digital assets. The company put up for sale 33.49 BTC, 497.56 ETH and 6,325.92 SOL it held as of Aug. 31. It also sold Chainlink, BNB and ADA.

In regulatory documents, AIXC separately described its XRP holdings as "immaterial" and stressed that the main losses came from declines in bitcoin and ether prices.

After selling the assets, the company decided to change its business model. AIXC, which previously ran a pharmaceutical business, plans to fully pivot to the robotics market through the RoboShare platform after selling depreciated digital assets. It means it will focus resources on rebuilding its core business instead of maintaining a cryptocurrency treasury strategy.

Similar moves have emerged at other small listed companies. Tokyo-based Remixpoint sold all of its ETH, SOL, DOGE and 1,190,000 XRP in Asian markets and bought an energy storage system. It left only bitcoin on its balance sheet. Cases of small companies locking in altcoin losses to normalise operations are continuing.