Republic Technologies Doubles Down on ETH, Forging a New Corporate Model

VANCOUVER, British Columbia – December 11, 2025 – In a strategic move that blurs the lines between traditional corporate finance and the burgeoning digital economy, Republic Technologies Inc. (CSE: DOCT, OTCQB: DOCKF) has announced a significant expansion of its Ethereum (ETH) treasury. The company, which aims to build institutional-grade infrastructure for the Ethereum network, recently doubled its holdings to 1,570.60 ETH, now valued at approximately US$5.27 million. This is not a simple speculative investment; Republic is pioneering a model where a digital asset serves as the core operational engine for a publicly traded company, challenging conventional notions of corporate treasury management and growth.

A Digital Treasury for a Digital Age

Republic’s recent purchase of 742.40 ETH solidifies its commitment to a strategy where the asset is fundamental to its operations. The company’s total holdings, acquired at a blended cost of around US$2,700 per ETH, have already seen an unrealized appreciation of over 23% based on recent market prices. However, the real story lies not in the paper gains but in the deployment of these assets.

Unlike companies that hold cryptocurrencies as a passive investment on their balance sheet, Republic treats its ETH as a productive, operational asset. Each validator node on the Ethereum network, which is essential for securing the blockchain and processing transactions, requires a stake of 32 ETH. With its expanded treasury, Republic now has the capacity to operate nearly 50 validator nodes. These validators are the heart of the company’s business model, generating the cryptographic “attestations” that form the basis of its data integrity services.

This approach effectively transforms ETH from a volatile commodity into a capital good, akin to a mining company acquiring drilling equipment or a factory purchasing machinery. By increasing its ETH holdings, Republic directly scales its capacity to generate revenue and secure its position within the Ethereum ecosystem. This operational integration represents a sophisticated evolution in how public companies can interact with and build upon open-source blockchain networks.

'Synthetic Mining' and the Pursuit of High-Yield Finance

Perhaps the most innovative and scrutinized aspect of Republic’s strategy is its use of what it terms “Synthetic Mining.” The company reports that portions of its balance sheet allocated to these sophisticated purchasing strategies have generated average annualized returns between 80% and 100%. This is not mining in the traditional, energy-intensive sense of Proof-of-Work, but rather a catch-all for advanced yield-generating strategies within the world of decentralized finance (DeFi).

These strategies likely involve a complex mix of staking, providing liquidity to decentralized exchanges, and engaging in arbitrage opportunities to acquire ETH at a lower effective cost and generate additional revenue. While the specific mechanics remain proprietary, the reported returns are exceptionally high compared to the standard 3-5% APY from basic Ethereum staking. Such high yields inherently come with elevated risks, including smart contract vulnerabilities, market volatility, and counterparty risk.

Republic appears to be mitigating these risks by leveraging institutional-grade infrastructure. The company has announced partnerships with industry leaders like BitGo for custody and staking solutions, Fireblocks for secure asset management, and Kraken for validator operations. This suggests a professional, risk-managed approach to navigating the high-stakes DeFi landscape. The goal is clear: to achieve non-dilutive balance sheet growth, increasing its ETH holdings without issuing new equity and diluting existing shareholders—a holy grail for any growth-focused public company.

Building the Institutional Backbone for Ethereum

Republic’s core mission extends beyond simply accumulating and staking ETH. The company is positioning itself as a crucial infrastructure provider, offering an “attestation platform” that enables enterprises to issue and verify digital proofs anchored to the Ethereum blockchain. These attestations provide immutable, verifiable proof of data integrity, a service with potential applications across supply chain management, regulatory compliance, healthcare, and financial services.

“As Ethereum continues to gain adoption, Republic is strategically positioned to scale with the ecosystem’s growth,” stated Daniel Liu, CEO of Republic Technologies, in the company’s recent press release. “Accelerating validator infrastructure deployment, expanding attestation capacity and expanding our ETH holdings remain core pillars to achieve our long-term strategy.”

The competitive landscape for Ethereum infrastructure is fierce, dominated by large centralized exchanges like Coinbase and decentralized protocols like Lido Finance, which holds a significant share of all staked ETH. Republic is carving its niche by combining the transparency of a publicly traded company with deep, operational integration into the network. Its strategic partnerships with established players like Kraken and the prime broker FalconX allow it to leverage existing, robust infrastructure while focusing on its unique attestation services, effectively building an institutional on-ramp to Web3.

Fueling Growth with Creative Capital

This ambitious strategy is being fueled by an equally innovative financing approach. The company’s recent listing on the OTCQB Venture Market in the United States, under the ticker DOCKF, was designed to enhance visibility and attract a broader investor base. More significantly, Republic secured a US$100 million secured convertible note facility, from which it has already drawn down an initial US$10 million.

This is not a standard loan. The facility comes with what the company calls “exceptionally favorable financing terms,” including a 0% interest rate and, critically, no requirement for additional collateral if the price of ETH declines. The note is secured by a fixed amount of ETH held in a custody account. Approximately 90% of the proceeds are being used to acquire more ETH, directly fueling the operational expansion.

While the term “non-dilutive” is used to describe its balance sheet growth from 'Synthetic Mining', this convertible note does introduce potential future equity dilution. In connection with the first drawdown, Republic issued nearly 28 million common share purchase warrants. If exercised, these warrants would inject further capital but also increase the number of shares outstanding. Nonetheless, the structure of the financing is designed to provide maximum flexibility and growth capital while minimizing immediate financial strain, allowing the company to aggressively pursue its strategy of scaling with the Ethereum ecosystem.