Capital B Raises €21M in Private Placement to Boost Bitcoin Holdings

Capital B, Europe's first bitcoin treasury company listed on Euronext Growth, has raised €21 million ($24 million) in a private placement backed by Blockstream's Adam Back and asset manager TOBAM. The funds were raised through the sale of 36,219,070 shares at €0.58 each, representing a 6.45% discount to Wednesday's closing price.

The net proceeds are expected to reach about €19.9 million after fees and transaction costs. According to Capital B, these funds could be used to buy approximately 270 more bitcoin, increasing its treasury to around 3,415 BTC from the current 3,145 BTC. This represents a significant increase in its holdings, which are currently worth around $245 million at today's price of $77,960 per BTC.

This move is part of a larger trend of corporate treasuries accumulating bitcoin through fundraising rounds. Other companies, such as Genius Group, have also announced plans to build parallel AI and bitcoin treasuries worth a combined $1.6 billion.