Almost two months after shifting its focus from energy to cryptocurrency, Zooz Power is purchasing 525 Bitcoins for $60 million. The move was made possible by raising $180 million through a share issuance at $1 per share. The company ultimately raised $159 million in net proceeds from the allotment. According to Zooz, 95% of the proceeds are designated for Bitcoin purchases.
The main terms of the deal included $159 million in net cash proceeds and an additional $5 million from a private offering in July 2025, with an option to raise up to $3 million more. This leaves the company with nearly $100 million still available for Bitcoin purchases, at a current price of about $113,000 per coin.
Following the share allotment, Zooz Power’s stock plunged, leaving the company with a market capitalization of less than NIS 90 million (approximately $27M).
The long-term Bitcoin acquisition strategy mirrors an approach pioneered in the U.S., most prominently by MicroStrategy, which is valued at $93.5 billion on Wall Street. MicroStrategy has adopted Bitcoin as its primary treasury asset and finances purchases through repeated equity issuances. As of today, the company holds 640,000 Bitcoins worth $47 billion. Effectively, purchasing MicroStrategy stock is akin to buying an option on Bitcoin’s price, a model Zooz now seeks to replicate in Israel.
Until July, Zooz Power was engaged in developing, producing, and selling kinetic energy storage systems, but failed to show significant success. The company ended 2024 with losses of NIS 40 million and 2023 with losses of NIS 43 million, alongside minimal revenues. The pivot to crypto took place in August, when Zooz Power CEO Erez Zimerman was replaced by entrepreneur and digital currency expert Jordan Fried.
