Flora Growth Corp., which is preparing a rebrand to ZeroStack, announced on October 21, 2025, that it has acquired an additional 880,025 units of the crypto-token 0G at an average purchase price of US$2.27. This marks the company’s second purchase of 0G following a recent fundraising initiative and signals a sharpened emphasis on building a treasury dedicated to decentralized artificial intelligence infrastructure.
The purchase brings the company’s total holdings to 123,418,360 tokens. Based on a 0G market value of US$1.87 (as of October 20, 2025, per Binance closing), this equates to approximately US$231 million in 0G equivalents.
In terms of per-share metrics, the company reports a “ZGPS” (0G per share) of 12.42 tokens and a USD equivalent of US$23.22 per partially adjusted common share (based on 9,940,399 shares outstanding). If the fully adjusted share count (including convertible notes) of circa 15,125,761 shares were used, those figures would shift.
Why this matters in the broader context
Flora Growth’s pivot into 0G aligns with its recent transformation from a global pharmaceutical distributor (through its subsidiary) into what it calls a “decentralised AI treasury company.” In September 2025, the firm announced a US$401 million private investment in public equity (PIPE) round, positioning 0G as its primary reserve asset.
By making 0G central to its treasury strategy, the company is offering investors a regulated, publicly listed vehicle to gain exposure to the decentralized AI economy, rather than acquiring general crypto assets or holding purely speculative positions. The decision to purchase and maintain these tokens long-term and to stake them for native yield underscores a commitment to operationalizing the asset rather than flipping it.
Additionally, the company recently appointed BitGo Trust Company, Inc. as custodian for its 0G holdings, signaling attention to institutional-grade security and compliance in digital asset custody.
Breaking down the numbers and implications
Here are some of the key figures and what they suggest:
- Total tokens held: 123,418,360 0G
- Reported USD equivalent (based on US$1.87 per token): ~US$231 M
- Partially adjusted share count: 9,940,399 shares
- ZGPS (tokens per share): 12.42 0G
- ZGPS (USD basis): US$23.22 per share
- Average cost of this latest tranche: US$2.27 per token
From these metrics, several observations emerge:
- The company’s per-share crypto exposure is non-trivial: US$23.22 per share becomes a lens on how the market might view the equity relative to the underlying crypto asset holdings.
- Because the share-count used is “partially adjusted” and excludes certain convertible notes, dilution risk remains a factor if additional shares are issued.
- The average purchase price (US$2.27) is above the market value used (US$1.87) for calculating USD equivalents, which could affect future mark-to-market valuations and accounting disclosures.
- The commitment to hold long-term and stake the tokens indicates that the company is seeking yield generation and network participation, not simply short-term speculation.
The broader technological and market context
The 0G network positions itself as an “AI-first blockchain” designed to support distributed AI workloads, combining storage, compute, and training-marketplace infrastructure within a decentralized architecture.
In an era where large-scale AI models have typically required massive centralized data centers, networks like 0G aim to provide an alternative: decentralized nodes contributing compute and storage to enable training at scale.
For Flora Growth/ZeroStack, aligning with the 0G network places the company at the intersection of crypto, decentralized infrastructure, and artificial intelligence. By structuring its treasury and operations around 0G, the firm is positioning itself as a potential bridge between traditional equity markets and the emerging Web3 AI economy.
At the same time, the move is not without risk. The value of the 0G tokens is market-driven and volatile. Token appreciation or depreciation will directly impact the company’s treasury valuation, and regulatory, custodial, or operational issues in the digital asset space could pose additional challenges. The appointment of BitGo suggests the company is aware of these risks and is aiming for institutional-grade controls.
What investors and observers will watch
In the coming months and quarters, key events and disclosures to monitor include:
- Token staking and yield generation: How much yield is generated from staked 0G tokens, and how that contributes to the treasury’s overall return profile.
- Dilution and share count changes: If convertible notes or other securities are converted or issued, the “ZGPS” and per-share crypto exposure metrics may shift.
- Additional token purchases: Whether the company deploys additional capital (from the PIPE round or operating cash) to further accumulate 0G.
- Changes in token valuation: Market value shifts in 0G will directly affect the company’s reported treasury value and investor perception.
- Operational integration of decentralized AI infrastructure: Whether through partnerships, development milestones, or network usage, progress materially advances, giving the treasury strategy substance beyond token accumulation.
Final thoughts
Flora Growth’s purchases of 0G tokens marks a bold pivot from its earlier business model into the emergent realm of decentralized AI infrastructure. By acquiring over 123 million tokens and establishing institutional-grade custody, the company is clearly signaling its strategic direction.
Whether this approach pays off will depend on multiple moving parts: token market dynamics, successful staking and yield generation, and the adoption of the 0G network itself. Investors should keep a close eye on future disclosures and the broader context of digital-asset treasuries. But for now, the company has laid down a firm marker: it is positioning itself as a publicly listed vehicle for exposure to the decentralized AI economy.
Rita Ferreira
Rita is a seasoned writer with over five years of experience, having worked with globally renowned platforms, including Forbes and Miister CBD. Her deep knowledge of hemp-related businesses and passion for delivering accurate and concise information distinguish her in the industry. Rita's contributions empower individuals and companies to navigate the complexities of the cannabis world, and her work remains a valuable resource for those seeking a deeper understanding of its potential.
