Sydney, 30 June 2025 – Locate Technologies Limited (ASX: LOC), an AI-powered last-mile delivery firm, has reaffirmed its Bitcoin-centric treasury strategy after a 47% surge in its share price triggered a formal query from the Australian Securities Exchange. The rally followed a 23 June update revealing the company’s Bitcoin holdings had grown to 10.0892 BTC, now valued at A$1.63 million.

In a 26 June response, CEO Steve Orenstein confirmed full ASX compliance and denied knowledge of any undisclosed market-moving information. The company credited investor interest to its recent capital raise of A$239,180 via an ATM facility and a 4 BTC acquisition at A$156,560 per coin, on top of its initial 6.08914 BTC buy at higher prices.

Orenstein described the Bitcoin allocation as a strategic hedge against inflation and fiat currency risk, positioning it as a modern store of value. The move aligns Locate with a growing trend of corporates using Bitcoin to strengthen balance sheets and preserve long-term purchasing power.

Investor sentiment has been largely positive, with many on social media hailing Locate as a pioneer in corporate Bitcoin adoption in Australia. The company has pledged to disclose all material Bitcoin transactions under its Treasury Management Policy, with further details expected in its upcoming Q4 FY25 report.