Hong Kong-Listed Boyaa Interactive Posts $103M First-Half Loss as Bitcoin Prices Slide

BitcoinWorld Hong Kong-Listed Boyaa Interactive Posts $103M First-Half Loss as Bitcoin Prices Slide Hong Kong-listed gaming company Boyaa Interactive, known for holding Bitcoin on its balance sheet, reported a first-half net loss of approximately HK$792 million (US$103 million) as the cryptocurrency’s price fell during the period.

The loss contrasts with a 16.05% year-on-year increase in revenue, which reached HK$258 million, according to a report by Zhitong Caijing.

Impact of Bitcoin Price Decline on Corporate Holdings Boyaa Interactive has been one of the few publicly listed gaming firms to allocate a significant portion of its treasury to Bitcoin.

The company’s first-half financial results reflect the volatility inherent in holding digital assets, as the price of Bitcoin dropped from around $42,000 at the start of 2024 to below $30,000 by mid-year.