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Cloud Software Firm Phunware Buys 398 More Bitcoins for About $24M

The company now owns about 529 bitcoins in total, according to a statement.

By Michael Bellusci
Updated May 11, 2023, 7:03 p.m. Published Nov 22, 2021, 2:35 p.m. 1 min read
Cloud Network Solution digital background. Cyber Security and Cloud Technology Concept
Cloud Network Solution digital background. Cyber Security and Cloud Technology Concept

Mobile cloud software company Phunware (PHUN) announced Monday that it has bought an additional 398 bitcoins for about $23.8 million in cash at an average price of about $59,917 per bitcoin, including fees.

  • The Austin, Texas-based firm said it now holds about 529 bitcoin at an average purchase price of approximately $60,191 per bitcoin, according to a statement Monday.
  • Phunware said last week it would start processing initial issuances of PhunCoin, available for trading on Securitize. In late October, the company said it would begin accepting bitcoin as a form of payment.
  • Shares of Phunware were down more than 3% to $3.57 in early trading on Monday.
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  • Texas man Nathan Fuller allegedly raised $12.3 million from 150 investors via a false AI crypto bot scheme promising up to 100% returns.
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