Know Labs, Inc. (NYSE American: KNW) has announced that it will sign a contract with Goldeneye 1995 LLC and Ripple’s Chief Risk Officer Greg Kidd to gain control over the company. Upon completion of the transaction, Mr. Kidd will become CEO and chairman of the company’s board of directors, with founder Ron Erickson becoming vice-president of the board.
Just In: Know Labs, Inc. announces adoption of Bitcoin financial strategy and holds 1,000 Bitcoin
pic.twitter.com/nsn2xfzyx0
– Bitcoin Magazine (@bitcoinmagazine) June 6, 2025
Under the agreement, the Buyer acquires shares in Know Labs’ common stock by splitting the total amount and cash amount of 1,000 Bitcoin designated to pay off existing obligations, redeemed any outstanding preferred shares, and provide additional working capital. Prices are $0.335 for all stocks purchased. Bitcoin serves as a central component of the company’s financial strategy, giving investors exposure to Bitcoin.
“We are excited to be able to deploy our Bitcoin financial strategy with the support of future prospects organizations like Knowledge Labs when markets and regulatory conditions are particularly favorable,” Kidd said. “We believe this approach will generate sustainable growth and long-term shareholder value.”
When Bitcoin becomes a major asset on a company’s balance sheet, management employs multiples of the Net Asset Value (MNAV) metric to assess the location of premium investors in the company’s market value compared to Bitcoin assets. Based on a market capitalization of $128 million and a Bitcoin price of $105,000, the estimated entry MNAV multiple is 1.22 times, with Bitcoin accounting for approximately 82% of its total market capitalization at the time of closing.
“The partnership with Greg Kidd marks the next chapter that is crucial for the knowledge lab,” commented Erickson. “We look forward to continuing our research into non-invasive medical technology. Greg’s visionary leadership position knows the lab for a bold future.”
The adoption of Bitcoin as a reserve asset by the Ministry of Finance has increased dramatically over the course of last year and is expanding worldwide. To date, there are 225 companies and other entities that have Bitcoin on their balance sheets.
Norwegian Block Exchange (NBX), a leading Nordic cryptocurrency exchange and digital asset platform, announced on June 2 that it added Bitcoin to its balance sheet and marked a national milestone for holding Bitcoin as part of its financial strategy, as Norway’s first publicly listed company.
“NBX will not sell this Bitcoin or run short in any way,” the company said. “Referring to LDA Capital’s latest POA notification, NBX will use its revenue to purchase additional Bitcoin.”
This post is by Labs, Inc. first appeared in Bitcoin Magazine and announced the adoption of a Bitcoin financial strategy starting with 1,000 Bitcoin, written by Oscar Zarraga Perez.
