Asian food giant DDC Enterprise closes up to $528 million to grow corporate Bitcoin reserves

DDC Enterprise (ticker DDC), the NYSE-listed entity behind the Asian food brands DayDayCook, Nona Lim, and Yai's Thai, secured capital commitments of up to $528 million to grow out its Bitcoin treasury.The financing came from a $26 million private investment in public equity (PIPE) deal with "premier" digital asset investors and a $25 million issuance of convertible notes, in addition to a $2 million private placement and $200 million equity line of credit with Anson Funds. The firm maintains the option to raise up to $275 million more via convertible notes, according to a Tuesday release. DDC plans to buy bitcoin using the proceeds of this offering, with the New York-based investment bank Maxim Group LLC overseeing the transactions, the company said. "This maximum aggregate $528 million capital commitment marks a watershed moment for DDC," the firm's founder, chairwoman, and CEO Norma Chu said in a statement. "With premier institutions such as Anson Funds, Animoca Brands, and Kenetic Capital backing our vision, we believe we have unprecedented capacity to execute our mission of building one of the world's most valuable corporate bitcoin treasuries and becoming a top global bitcoin holder."DDC had first announced its treasury strategy in May of this year. The firm bought 21 bitcoins valued around $2.3 million at the time by selling 254,333 shares of its class A stock. The firm then laid out plans to raise $528 million in financing in mid-June. According to the announcement, the firm holds 138 BTC, worth about $14.67 million, as of June 12.DDC envisions "building the world's most valuable Bitcoin treasury," competing with other crypto treasury companies like Michael Saylor's firm Strategy. Strategy is the largest corporate holder of bitcoin and owns 597,325 BTC, or 2.84% of the total BTC supply, as of June 30. Aside from bitcoin, public firms such as DeFi Development Corporation, SharpLink Gaming, The Smarter Web Company, and others have marked plans to expand their crypto treasury holdings.Bitcoin, the most valuable cryptocurrency by market capitalization, traded at about $106,300, falling nearly 1% in the past day, according to The Block's Bitcoin price page. The Block reached out to DDC Enterprise for additional comment. Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.