NYSE-Listed DDC Enterprise Raises $528M to Build Bitcoin Treasury

NYSE-listed DDC Enterprise announced the initial closing of a $528 million capital raise. The proceeds are earmarked exclusively for Bitcoin accumulation, suggesting a fundamental shift in the company’s financial strategy and placing it among a rare class of publicly traded firms pivoting hard toward crypto assets.

The financing round, disclosed on July 1, represents one of the largest Bitcoin-specific capital raises by a non-crypto U.S. public company. It includes a mix of convertible notes, private placements, and an equity line of credit. Investors in the round include Anson Funds, Animoca Brands, and Kenetic Capital, all well-known players in the blockchain and digital asset space.

Building a Bitcoin Treasury Outside the Tech World

Most public firms aggressively acquiring Bitcoin—such as Strategy—hail from tech or finance. DDC, however, operates a consumer-focused food platform, making its move even more notable. With the backing of deep-pocketed institutions, DDC now aims to become one of the world’s largest corporate holders of Bitcoin, according to CEO Norma Chu.

“This maximum aggregate $528 million capital commitment marks a watershed moment for DDC,” said Chu. “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…”

Chu added that the raise will strengthen DDC’s balance sheet and provide the flexibility to act decisively in the crypto markets.

Breakdown of the Capital Raise

The $528 million figure is structured to allow flexible and phased execution of DDC’s Bitcoin strategy. The first tranche has already been completed and includes:

• A $26 million strategic PIPE investment, including debt conversion
• A $25 million drawdown from a convertible note agreement with Anson Funds
• An additional $275 million in convertible notes capacity available for future use
• A $2 million private placement
• A $200 million equity line of credit

The multi-instrument structure provides DDC with both immediate liquidity and the ability to scale its Bitcoin purchases over time, based on market conditions. Maxim Group LLC served as the exclusive financial advisor to DDC for this deal, adding further institutional weight to the announcement.

From Consumer Goods to Crypto Strategy

While DDC is known primarily as a food platform operator, it has steadily ramped up its crypto activity. In June, it disclosed the purchase of 38 BTC, bringing its total holdings to 138 BTC. That acquisition was made using funds available before the new capital raise.

Now, with access to over half a billion dollars, the company is positioned to significantly expand its Bitcoin treasury and align itself with the likes of Strategy and Metaplanet, both of which have made Bitcoin a core strategic asset.

DDC isn’t abandoning its consumer-facing operations. Instead, it is layering a Bitcoin treasury strategy on top of its existing business, creating a hybrid model that combines consumer services with long-term digital asset accumulation. 

DDC’s announcement follows a string of corporate Bitcoin acquisitions. Notably, Strategy recently disclosed its 12th consecutive weekly Bitcoin buy, this time worth $531 million. That pattern of regular accumulation has become the benchmark for serious Bitcoin treasury strategies.

If DDC executes as planned, it could emerge as a top-tier corporate Bitcoin holder—possibly rivalling some of the most aggressive players in the space. More importantly, it may inspire a new wave of mid-cap firms to pursue similar strategies, especially those looking for diversification in the face of inflation, geopolitical instability, and currency devaluation.