Swedish company Refine Group has announced the launch of its Bitcoin treasury strategy, marking a third business area in digital assets.
Launch of Bitcoin Treasury Strategy
Refine Group, a digital commerce company, is expanding into digital assets with the launch of a Bitcoin-focused treasury strategy. Starting July 16, the company will disclose a new business metric – Bitcoin per share.
Funding and Investments
The company raised 10 million krona (approximately $1 million) through a directed share issuance of over 54.37 million shares, each priced at 0.1839 krona. The entire proceeds will be used to purchase Bitcoin, making it the company's core reserve asset.
Future Expansion of Strategy
Refine Group's CEO, David Wallinder, stated that this decision will help strengthen the company's financial position and drive further innovation in digital commerce. He also mentioned plans to expand this area in the near future.
Refine Group's initiative follows a global trend of companies adding Bitcoin to their balance sheets as a hedge against fiat currency risks.