Capital B has added another five Bitcoin to its corporate treasury, spending approximately €280,000 as the company continues to build its long-term Bitcoin reserves.
With the latest purchase, the Euronext Growth Paris-listed company now holds a total of 3,145 BTC as part of its strategic treasury program. The newly acquired Bitcoin were purchased at an average price of about €55,882 per coin.
According to the company, the total cost of acquiring its Bitcoin reserve has now reached €284.2 million, with an average purchase price of €90,352 per Bitcoin.
The latest acquisition was funded through a capital-raising program carried out in partnership with French asset manager TOBAM. Between late July and early August, Capital B issued 647,110 new shares at an average price of €0.47 per share, raising approximately €301,460 in fresh capital.
The company continues to use equity financing as a way to expand its Bitcoin holdings, a strategy that has become increasingly common among publicly traded firms focused on digital asset accumulation.
Despite the growing size of its Bitcoin treasury, the current market value of the reserve remains below the total amount spent to acquire it. Capital B reported that its 3,145 BTC reserve was valued at approximately €170.9 million based on its latest calculation, compared with the €284.2 million spent on purchases.
This means the reported value of the reserve is currently about €113.3 million below its total acquisition cost. The valuation is based on Bitcoin’s closing market price before the company’s latest disclosure.
In addition to its strategic reserve, Capital B also holds another 61 Bitcoin for operational purposes. These coins are kept separate from the main treasury and are not included in the company’s Bitcoin strategy performance metrics.
Capital B reported a year-to-date BTC Yield of 2.14%. However, the company emphasizes that this figure should not be confused with traditional investment yield or profit. Instead, the metric measures changes in the amount of Bitcoin held per fully diluted share, reflecting how effectively the company increases Bitcoin exposure for shareholders over time.
The company also announced a major ownership update involving Blockstream Capital Partners. The investment firm converted more than 14 million financial instruments into nearly 28.7 million ordinary shares, increasing its position in Capital B.
Following the conversion, Blockstream Capital Partners now owns approximately 71.8 million shares, representing more than 21% of the company’s issued share capital.
Capital B’s Bitcoin-focused strategy received a significant boost earlier this year when shareholders approved substantial financing capacity to support future purchases. The company now has authorization for billions of euros in potential capital raises and financing instruments that could be used for further Bitcoin accumulation.
Management says its primary objective is not simply to increase the total number of Bitcoin held but to increase the amount of Bitcoin backing each fully diluted share. This approach is designed to improve shareholder exposure to Bitcoin over the long term.
The company’s continued buying stands in contrast to recent activity by Strategy, the world’s largest corporate Bitcoin holder. While Strategy remains committed to Bitcoin, it recently sold part of its holdings to fund preferred stock dividends and share repurchases.
For now, Capital B remains focused on expanding its Bitcoin treasury. Future reports will show whether the company can continue increasing its Bitcoin holdings per share while navigating fluctuations in Bitcoin’s market value and the costs associated with ongoing accumulation.
