Next Technology's stock price in the US stock market rose by over 700% due to a significant increase in holdings of Bitcoin in Q1

On May 10th, the US stock Next Technology Holding Inc surged 740% to $2.7 on Friday afternoon, due to the company's significant increase in Bitcoin holdings in Q1. According to information released by the company, as of March 31, 2025, it holds approximately 5833 bitcoins with a book value of $481.7 million, compared to only 833 bitcoins at the end of 2024. This growth is mainly related to a major cryptocurrency acquisition executed in March, which was financed through the issuance of stocks and warrants. Next Technology's business focus is software development and Bitcoin investment. The company also reported a net revenue of $193.4 million in the first quarter, almost entirely from unrealized gains on digital assets.