The UK Smarter Web Company has purchased an additional $24.7 million worth of Bitcoin (BTC), increasing its holdings to 773 BTC.

CN
5 hours ago

The Smarter Web Company, a web design and marketing firm based in the UK, has once again expanded its Bitcoin reserves by purchasing 230.05 BTC for £17.97 million (approximately $24.7 million) at an average price of $107,126 per coin.

According to documents submitted on Tuesday, this London-listed company currently holds a total of 773.58 BTC, with an average purchase price of $107,015, bringing its total Bitcoin (BTC) investment to over $82.6 million.

This purchase is part of Smarter Web's "Decade Plan," which was launched in April this year to promote transparent growth through a digital asset reserve policy, focusing on Bitcoin accumulation to support "long-term corporate value."

The company stated that it still has approximately $52.3 million in cash available for further Bitcoin purchases.

The documents also revealed that the company recently raised about $62 million through subscriptions and accelerated book-building. This round of financing diluted the shareholding of existing shareholders by 9%.

At the same time, the documents disclosed the latest shareholding situation of key directors after the financing. CEO Andrew Webley and his family currently hold about 11.3% of the company's shares.

Since 2023, Smarter Web has begun accepting Bitcoin payments. The documents noted: "The company believes that Bitcoin will become a core part of the global financial system and will continue to explore new opportunities in organic growth and corporate mergers and acquisitions."

Smarter Web's latest acquisition comes as UK-listed companies are increasingly investing in Bitcoin. In the past week, at least nine small-cap companies listed on exchanges like Aquis have announced the completion of Bitcoin purchases or expressed intentions to include Bitcoin in their corporate asset reserves.

Among them is the AI services group Tao Alpha, which plans to raise $137 million following the announcement of its Bitcoin strategy; the Smarter Web Company has also newly purchased 196 BTC to expand its reserves.

Additionally, Panther Metals disclosed that it has purchased one Bitcoin. Bluebird Mining Ventures raised $2.7 million specifically for Bitcoin purchases; Vinanz secured $5 million from investors.

Related: Musk's xAI secures $10 billion in funding, Trump claims he will use DOGE to investigate his business.

Original: “UK's Smarter Web Company adds $24.7 million in Bitcoin (BTC), increasing holdings to 773 BTC”

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