Parataxis Merges With SPAC, Aims to Stack $640M in Bitcoin

TLDR:

• Parataxis merges with SilverBox IV SPAC, unlocking up to $640M to buy and yield Bitcoin.
• $31M already raised will be deployed into BTC ahead of the merger’s SEC approval.
• South Korea arm launched via Bridge Biotherapeutics buyout, targeting ETF gap and demand.
• Equity line gives access to another $400M, enabling treasury scaling and special deals.

Parataxis Holdings just made its biggest move yet. The digital asset platform is going public through a SPAC merger with SilverBox Corp IV. This deal isn’t about hype, it’s about stacking serious Bitcoin. 

Parataxis wants to lead the charge in Bitcoin treasury strategies, starting in the U.S. and South Korea. And now, it has up to $640 million to make that happen.

SPAC Merger Opens the Door for Bitcoin Treasury Expansion

The business combination, once closed, will see Parataxis Holdings listed on the NYSE as Parataxis Holdings Inc. 

The ticker symbol will be “PRTX.” According to the company, the deal includes up to $240 million in immediate proceeds. About $31 million has already been raised to start buying Bitcoin now.

In a statement, CEO Edward Chin said the goal is to build a public vehicle offering institutional access to Bitcoin. He stressed the platform isn’t just about holding Bitcoin. It’s about generating yield and deploying disciplined digital asset strategies.

While most firms are focused on the U.S., Parataxis is turning heads in South Korea. The company recently launched Parataxis Korea, taking over Bridge Biotherapeutics. Since the announcement in June 2025, the biotech’s shares have jumped roughly 4.5x.

South Korea presents a rare window of opportunity. There’s no Bitcoin ETF yet, but demand for crypto exposure is high. Parataxis sees this gap as its chance to lead, with localized execution and a first-mover edge.

Yield Strategy Sets Parataxis Apart

Parataxis doesn’t just plan to hold Bitcoin. The team wants to generate yield through low-volatility trading. 

That means targeting institutional clients who want more than just exposure. The leadership, drawn from Parataxis Capital, brings traditional asset management tactics into the digital world.

Their stated approach focuses on capital preservation while unlocking BTC yield. A governance-first structure is key to this. The platform is already backed by global allocators with strict risk controls.

The SPAC deal gives Parataxis optional access to another $400 million via an equity line. If fully drawn, it pushes their total equity value to $800 million. That capital will help accelerate BTC purchases, fund treasury platforms, and seize “special situations” deals.

Both boards have approved the agreement and it now heads to SEC review. The Bitcoin raised from the preferred equity round will be custodied until the merger closes, giving incoming shareholders instant BTC exposure.

Parataxis is clear on its direction: buy Bitcoin, make it work harder, and do it at an institutional scale: no flash, no noise,  just a clean, tactical move into digital finance’s next frontier.