Capital B Snags €21M for More Bitcoin

Capital B, Europe's first bitcoin treasury company, has secured €21 million in funding from Blockstream's Adam Back and asset manager TOBAM. The Euronext Growth-listed company will use this influx of capital to purchase more BTC.

The private placement saw 36,219,070 shares sold at €0.58 each, a 6.45% discount to the previous day's closing price. This deal is expected to bring in net proceeds of around €19.9 million after fees and transaction costs are deducted.

Capital B currently holds 3,145 BTC, worth approximately $245 million at today's price of $77,960. With this new funding, the company aims to push its stack to around 3,415 BTC, acquiring an additional 270 coins in the process.