Scilex Holdings announces a $150 million bitcoin investment in Datavault AI

On September 26, Scilex Holdings (NASDAQ: SCLX) announced today that it will invest $150 million worth of bitcoin in Datavault AI (NASDAQ: DVLT). This investment aims to accelerate Datavault's supercomputing infrastructure development and the expansion of its independent data exchange platform. According to the agreement, Scilex will receive approximately 279 million shares of Datavault common stock at a price of about $0.54 per share. The collaboration will focus on the monetization market for biotechnology data, which is expected to reach a scale of $30-50 billion in 2024. Datavault will leverage its Web 3.0 and blockchain technology to provide data security and monetization solutions for the biotechnology sector.