PANews reported on June 18 that Norwegian digital asset company K33 announced plans to raise at least 85 million Swedish kronor through a private placement of shares to purchase up to 1,000 bitcoins. The funds raised will be used to strengthen the company's balance sheet, while improving profit margins, launching new products and attracting larger institutional partners. The CEO said that this fundraising is an important milestone in achieving the goal of acquiring 1,000 bitcoins.