PreMarketPicks
4 months ago
Update from my previous post: On August 28, 2024, they signed a purchase agreement with Macau Rongxin Precious Metals Technology Co., Ltd. BHAT received 1,000 kilograms of gold (around 2,204 pounds), valued at $66.49 million (priced at $66.49 per gram). Theyβll be paying for it in installments.
This is part of BHAT's strategy to expand into the gold supply chain business, supplying gold to refineries, wholesalers, and retailers. The deal follows a framework agreement signed in October 2023. The company expects this move to strengthen their financial position and help them tap into the growing precious metals market.
Before the transaction is fully closed, BHAT will inspect the gold to ensure it meets their standards. This deal is seen as a key step for BHAT as they transition into commodity trading.
PreMarketPicks
4 months ago
Blue Hat Interactive Entertainment Technology (BHAT) has recently expanded into AI-driven innovation, particularly within the fintech sector. They've achieved this through the acquisition of GTC Multi Trading DMCC, a financial tech company, allowing them to integrate AI into gold and financial derivatives trading. This marks a strategic shift for BHAT from interactive AR entertainment products to leveraging AI in financial services. By incorporating AI technology, BHAT aims to innovate trading systems, customer service, and product development within the fintech space?.