Capital B has bought 376 Bitcoin for €25.3 million. Its strategic holdings now total 3,521 BTC after nearly €30.1 million in capital raises. The Sept. 7 announcement confirmed the completion of the Capital B Bitcoin acquisition.
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According to the company announcement, the company paid an average of €67,182 per Bitcoin. Its strategic reserve carries a total acquisition cost of €309.4 million. That puts the average purchase price for the entire reserve at €87,878 per coin.
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What Changed in Capital B Strategic Bitcoin Holdings?
Capital B valued its strategic holdings at approximately €240.8 million. It used Bitcoin’s closing price from the trading day before the announcement. The valuation covers the coins held under its Bitcoin treasury strategy.
The Capital B Bitcoin acquisition increased strategic holdings by nearly 12% from Aug. 17. The company then held 3,145 BTC. This was its largest single purchase since acquiring 624 BTC in June 2025.
Swissquote Bank Europe executed the latest purchase with proceeds from the completed capital increases. The bank is a Luxembourg-registered virtual asset service provider. Custody was entrusted through technology supplied by Swiss digital asset infrastructure company Taurus.
Another 61 BTC set aside for operations. Capital B maintains this coin outside the company’s strategic Bitcoin holdings. This is also not included in the measurements used to gauge the company’s treasury performance.
The Capital B Bitcoin acquisition was made following the disclosure made during the company’s latest fundraising. Two private placements and an agreement with TOBAM provided funding for the acquisition. Capital B had said its available funds could support the acquisition of 376 BTC.
Who Backed Capital B Latest Fundraising Rounds?
An earlier announcement outlined the expected increase to 3,521 BTC. That projection followed Adam Back’s participation in a Sept. 2 share placement. The Sept. 7 release confirmed completion of the previously planned purchase.
The Capital B Bitcoin acquisition followed two months of smaller purchases. The company bought one BTC on Aug. 3. It added another five on Aug. 17, bringing its strategic reserve to 3,145 BTC.
The five BTC purchase cost approximately €280,000. Capital B reported an average purchase price of €55,882 per Bitcoin for that deal. Its reserve had previously risen from 2,828 BTC in February to 3,139 BTC by June.
Two private placements generated approximately €28.7 million in combined gross proceeds. Participants included Adam Back, TOBAM, and other global institutional investors. Each share came with four subscription warrants, with units priced at €0.58.
The first placement was announced on Aug. 28. It involved the issuance of 36.22 million shares with attached warrants for €21.01 million. Strategic investors Back and TOBAM took part in that financing round.
How Did Adam Back Support the Capital B Bitcoin Acquisition?
Capital B expected approximately €19.9 million in net proceeds from the first placement. That estimate accounted for placement fees and transaction expenses. The funds and existing resources could support a purchase of around 270 BTC.
The placement carried a discount to the company’s traded share price. Its €0.58 unit price was 6.45% below the Aug. 27 closing price. The company later announced a second placement on Sept. 2.
Back subscribed for another 13.18 million shares carrying warrants in the second transaction. His subscription raised €7.64 million. Capital B confirmed that both private placements had reached final completion on Sept. 7.
The Capital B Bitcoin acquisition also drew on financing through the TOBAM agreement. This separate capital increase raised €1.44 million. Capital B issued 2.8 million ordinary shares under the existing ATM arrangement.
The shares had an average rounded subscription price of €0.51. TOBAM submitted the relevant subscription requests between Aug. 10 and Aug. 21. Three funds managed by the asset manager participated in the capital increase.
The TOBAM Bitcoin Alpha Fund invested about €769,527. The Bitcoin Enhanced Fund contributed approximately €508,691. Another participant, the Bitcoin Treasury Opportunities Fund, contributed nearly €162,353 towards the capital raising process.
What Treasury Metrics Followed the Capital B Bitcoin Acquisition?
After the Capital B Bitcoin acquisition, the YTD BTC Yield was 2.17%. As of Aug. 17, it was 2.14%. In June, the firm recorded a YTD BTC Yield of 1.85%.
Bitcoin per fully diluted shares was 736.6 satoshis following the capital raise and acquisition of Bitcoin. This August’s number is 736.4 satoshis. It is one of the metrics used by the company to measure its strategic reserve.
For YTD, the company has seen a gain of 61.3 BTC. It has reported an approximate BTC € Gain of €4.19 million. This number is based on the price of Bitcoin in the trading session before the announcement.
For the current quarter, the BTC Yield for Capital B was recorded at 0.31%. The BTC Gain recorded in that period was 9.9 BTC. The BTC € Gain in the same period was €675,086, according to the company’s treasury figures.
Capital B defines BTC Yield using its strategic holdings and fully diluted shares. It measures the percentage increase in their ratio within the period. The Operational Bitcoin holdings are not included in the calculation of BTC Yield.
BTC Gain involves the Bitcoin balance at the beginning of the period. The corporation multiplies the balance by the BTC Yield. BTC € Gain translates the gain into Euro based on the closing price of the previous trading day.
How Will Capital B Adjust Its Convertible Bonds and Warrants?
Capital B Bitcoin acquisition comes after its shareholders gave it broader financing capability in June. This includes giving the corporation the debt capacity to borrow €100 billion. The shareholders also gave it authorization for an increase in capital by up to €5 billion.
The vote of each resolution had more than 95% of votes. All capital increases were completed before a planned share consolidation of the corporation. The 10-for-1 reverse stock split of Capital B takes effect from Sept. 8.
The reverse stock split involves the conversion of every 10 current shares to one share. This requires modifications in the outstanding convertible bonds. The company must also adjust the terms of its warrants to reflect the split.
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This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
