Coin News Crypto: ZOOZ Power Jumps 250% on $180M Offering and Bitcoin Treasury Plan
ZOOZ Power’s stock soared as much as 262% in pre-market trading Friday after shareholders approved a $180 million private placement to fund its new bitcoin treasury reserve strategy. The Nasdaq-listed firm closed at $2.33 on Thursday before peaking at $8.44, later settling at $3.84 — still 65% higher than the prior day. ZOOZ plans to allocate about 95% of proceeds (roughly 1,470 BTC) toward bitcoin purchases, positioning it among the top 50 public bitcoin treasury holders. The move makes ZOOZ the first dual-listed company in the U.S. and Israel to hold bitcoin on its balance sheet. Backed by Pantera Capital, FalconX, and Arrington Capital, and now led by Hedera Hashgraph investor Jordan Fried, the firm expects the offering to close next week. Fried described the treasury strategy as a “strategic asset” to drive growth and signal leadership in the crypto space.