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

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

Nov 22, 2021 at 2:35 p.m. UTC
Updated Nov 22, 2021 at 3:37 p.m. UTC

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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Michael Bellusci is CoinDesk's crypto payments reporter.