Harrys Manufacturing Inc., a national cigarette producer based in Vancouver, has announced the purchase of 0.1525593 bitcoin for $25,000.
This move marks Harrys as the first publicly traded tobacco company to add bitcoin to its balance sheet.
Board supports bitcoin allocation
The company’s board of directors authorized the acquisition, citing innovation and diversification as driving factors.
In its statement, Harrys noted:
Allocating a portion of the Company’s treasury to Bitcoin represents an innovative step towards financial diversification and long-term value creation.
Digital asset platform partnership
Following a trend among Canadian companies, Harrys has opened a corporate digital asset account with Bitbuy, a leading Canadian bitcoin platform.
The company referenced industry peers, including WonderFi, that have adopted similar measures for managing digital assets.
This account aligns with best practices in digital asset management and demonstrates a growing institutional interest in bitcoin.
Industry context and company profile
With over 15 years in the tobacco sector, Harrys serves adult Canadian smokers seeking quality products at accessible prices.
The company emphasizes collaboration with distribution partners to meet consumer needs.
Regulatory and legal disclaimer
Harrys clarified that its news release is strictly intended for market investors and not to promote tobacco products, in accordance with Canadian law.
The company also included standard caution regarding forward-looking statements, warning investors that actual outcomes may differ from projections.
