Capital B Targets 376 More Bitcoin After $8.8M Adam Back Investment

Key Takeaways

• Capital B raised €7.6 million ($8.8 million) through a private placement subscribed by Bitcoin developer and investor Adam Back.
• The company plans to purchase up to 376 Bitcoin, increasing its holdings from 3,145 BTC to 3,521 BTC.
• If warrants attached to Back’s investment are fully exercised, it could raise another €49.4 million for Capital B.

French Bitcoin treasury firm Capital B has raised €7.6 million ($8.8 million) from strategic investor and developer Adam Back as it looks to expand its corporate Bitcoin holdings.

According to a filing on Wednesday, the Euronext Growth Paris-listed firm said Adam Back subscribed for roughly 13.18 million shares, with four warrants attached to each share, at €0.58 per unit.  

Capital B said the proceeds, along with its ongoing operations, could enable it to acquire 376 additional Bitcoin. If it completes the planned purchases, its total holdings could rise to 3,521 BTC.

Capital B Expands Bitcoin Treasury Strategy

Capital B currently holds 3,145 BTC, acquired for a total of €284.2 million at an average price of €90,352 per Bitcoin, according to the company’s latest treasury update.

It is also among Europe’s largest publicly listed corporate Bitcoin holders.

The latest investment would also strengthen Back’s position in the firm. Following the issuance, Adam Back is expected to hold 17.7% of Capital B’s ordinary share capital, up from 14.82% before the transaction.

The latest investment follows a separate €21 million financing announced on August 28 that included global institutional investors such as Adam Back and TOBAM. The August 28 financing involved issuing up to 36.2 million new shares, with four five-year warrants attached to each share.

If all warrants attached to the latest placement are exercised, Capital B could raise an additional €49.4 million through the issuance of about 52.7 million ordinary shares.

Corporate Bitcoin Accumulation Continues

The deal extends Capital B’s strategy of using equity financing to increase its Bitcoin holdings.

However, the proposed addition of 376 BTC has not yet materialized. The final amount depends on how the firm deploys the new capital alongside funds generated through its ongoing operations.

If Capital B reaches 3,521 BTC, the move would further increase its direct Bitcoin exposure and reinforce its position among publicly listed companies pursuing a Bitcoin treasury strategy.

Get started on WEEX with a simple 40 USDT reward. Deposit 100 USDT, make your trade, and claim the bonus. 

Disclaimer: All content on The Moon Show is for informational and educational purposes only. The opinions expressed do not constitute financial advice or recommendations to buy, sell, or trade cryptocurrencies. Trading involves significant risk and may result in substantial losses. Always seek independent financial advice before making investment decisions. The Moon Show is not responsible for any financial losses or decisions made based on the information provided.

Please view the full disclaimer at: https://themoonshow.com/disclaimer