12:18 PM EST, 01/02/2025 (MT Newswires) -- Spirit Blockchain Capital ( SBLCF ) , a digital finance and blockchain infrastructure company, was slightly lower at last look on Thursday even as it announced a strategic initiative aimed at generating yield on its Dogecoin (DOGE) holdings, "marking a significant step towards maximizing the utility and financial performance of Spirit's digital asset treasury."

In a statement Spirit said this initiative positions it "with the ability to leverage its Dogecoin holdings with a yield-bearing strategy, underscoring the company's commitment to delivering value to shareholders, expanding treasury efficiency, and enhancing the adoption of decentralized financial products".

Shares of the company did rise earlier today to $0.30 after the news came out.

On Dec. 1, the company initiated an increase to its Dogecoin treasury exposure, "to capitalize on the potential upside and revenue opportunities". Spirit added it intends to utilize its already established partnerships and strategic investment partners to facilitate and optimize yield generation. This initiative is designed to be scalable, serving as a model for future cryptocurrency yield strategies, including assets such as Bitcoin (BTC), Ethereum (ETH), Tether (USDT), and Solana (SOL) etc, Spirit said in a statement.

"This initiative represents a significant step for Spirit Blockchain Capital ( SBLCF ). By activating a yield-generation strategy with Dogecoin, we aim to unlock a previously untapped revenue stream while simultaneously positioning ourselves as a market leader in yield generation for not only Dogecoin, but the broader digital asset space within the public sector. The cryptocurrency market is evolving rapidly, and our ability to adapt, innovate, and capitalize on emerging opportunities is what sets Spirit apart. We aim to continue pursuing strategic opportunities to benefit Spirit and enhance shareholder value," said CEO Chief Executive Lewis Bateman.

The company said it has implemented risk management protocols designed to safeguard its digital assets and mitigate potential risks associated with yield-generation strategies, to ensure the safety and integrity of this strategy.

Shares were last seen down $0.010 at $0.28 on the Canadian Securities Exchange.

Price: 0.28, Change: -0.01, Percent Change: -3.45