- The Smarter Web Company increased its Bitcoin holdings by purchasing 230 Bitcoin for $24.7 million.
- The firm now holds 774 Bitcoin, valued at over $82.6 million in total.
- The recent purchase is part of a long-term strategy to support business growth through digital assets.
- The Smarter Web Company raised $62 million through fundraising, impacting existing shareholders by 9% dilution.
- Several other UK-listed companies have also announced Bitcoin acquisitions or plans to buy Bitcoin in recent weeks.
The Smarter Web Company, a web design and marketing firm based in the United Kingdom, has expanded its Bitcoin reserves by acquiring an additional 230 Bitcoin at a cost of approximately $24.7 million. The purchase brings the company’s total Bitcoin holding to around 774 coins.
According to a recent filing, the firm’s average purchase price stands at $107,015 per Bitcoin. The total investment in the cryptocurrency now exceeds $82.6 million. The Smarter Web Company’s move is part of its “10 Year Plan,” which aims to drive growth and company value through a Digital Assets Treasury Policy focused on Bitcoin accumulation.
The company stated it still has approximately $52.3 million in cash available for further Bitcoin investments. “The Company believes that Bitcoin forms a core part of the future of the global financial system and as the Company explores opportunities through organic growth and corporate acquisitions,” the filing noted. The Smarter Web Company first started accepting Bitcoin as payment in 2023.
Recent fundraising activities brought in about $62 million through subscriptions and accelerated bookbuilds. These fundraising rounds resulted in a 9% reduction in existing shareholder ownership. After the fundraising, CEO Andrew Webley and his family retained an 11.3% stake in the company.
The latest acquisition comes during a surge in Bitcoin interest among UK-listed companies. At least nine firms on stock exchanges like Aquis have disclosed Bitcoin holdings or acquisition plans in the past week. Examples include Tao Alpha, which aims to raise $137 million after revealing its own Bitcoin strategy, and Panther Metals, which purchased a single Bitcoin. Bluebird Mining Ventures and Vinanz have also raised funds for Bitcoin purchases, attracting $2.7 million and $5 million, respectively.
This wave of activity highlights a trend among UK firms embracing digital assets as part of their business and investment strategies. For more details, see the company’s official filing and related reports on "the 10 Year Plan". Other companies mentioned include Tao Alpha and Vinanz.
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