UK-based Smarter Web Company has significantly increased its Bitcoin assets by acquiring 295 BTC for $35.2 million, raising its total holdings to 2,395 BTC.
Details of Bitcoin Purchase by Smarter Web
The Smarter Web Company purchased 295 BTC at an average price of $119,412. This announcement came right after raising approximately $10.17 million through the issuance of 3,452,086 new ordinary shares. A remaining allocation of 4,490,000 shares is left in their current 14 million subscription batch. Once this batch is completed, a similar subscription deal is planned to follow.
Traded under the “WC” symbol on London’s Aquis Stock Exchange, the company also holds $942,000 in cash, which may be utilized for further Bitcoin purchases. On Tuesday, its shares stood at 224.50 pence, down 0.3%, yet reflecting a weekly rise of 9.5%.
Rankings and Metrics of the Company
In July, Smarter Web announced purchases exceeding 1,500 BTC, propelling it from 36th to 23rd in the rankings of public companies, according to Bitcointreasuries data. CEO Andrew Webley aims to break into the top 20 within weeks. The top 10 includes Strategy, MARA, Twenty One, and Tesla.
For shareholder value, the company utilizes the “BTC Yield” metric, reflecting the percentage change in Bitcoin balance relative to the assumed diluted share count. Smarter Web has reported a 55,069% increase year-to-date and a 76% increase in the last 30 days.
Company Profile and Strategy
Smarter Web Company generates income from web design, development, and online marketing services, charging setup, annual hosting, and optional monthly fees. The company started accepting Bitcoin payments in 2023 and integrated a Bitcoin treasury policy in April. Guided by David Bailey and UTXO Management, their 10-Year Plan aims to grow organically and create long-term value through selective Bitcoin acquisitions. The company listed through a reverse merger on April 25, observing shares skyrocket near 20,000% to 605 pence before plummeting by 70% to 192.66 pence following the Bitcoin treasury announcement.
These actions highlight Smarter Web's strategic approach to increasing its Bitcoin assets, reinforcing its position in the cryptocurrency market.
