Chijet Motor Company, Inc. (NASDAQ:CJET) saw its shares climb 8.3% in premarket trading on Wednesday after the company disclosed that the value of its digital asset treasury has now exceeded $400 million.
The automaker said it has accumulated 100 million tokens under the digital asset strategy it unveiled earlier this month—part of a broader effort to diversify its business through exposure to blockchain-based investments.
“Reaching $400 million in digital asset treasury value represents an important milestone in our diversification strategy,” said Melissa Chen, Chief Executive Officer of Chijet. “We remain committed to expanding our holdings in a disciplined manner as we build long-term shareholder value.”
Chijet noted that its digital asset initiative is designed to support diversification, modernize its treasury management, and position the company to benefit from growth within the blockchain ecosystem. Management added that it intends to continue building its digital asset reserves in line with its capital allocation framework and prevailing market conditions.
The substantial growth of Chijet’s digital asset holdings in such a short period has sparked strong investor interest, driving the stock higher in early trading.