London-listed technology firm The Smarter Web Company has announced a significant increase in its Bitcoin assets, resulting from a successful fundraising round.
Recent Bitcoin Purchase
On June 19, The Smarter Web Company announced the acquisition of 104.28 BTC at an average price of £77,751 ($104,451) per coin. This purchase totaled £8,108,114, bringing the company's total Bitcoin holdings to 346.63 BTC.
Successful Fundraising
The fundraising concluded on June 16 and occurred through a mix of institutional bookbuilding and qualified investor subscriptions. The company initially aimed to raise at least £15 million, but strong demand resulted in approximately £29.3 million ($37.1 million) being raised — nearly double the target.
Long-term Bitcoin Treasury Strategy
The company regularly adds to its Bitcoin stash as part of its long-term '10 Year Plan,' which centers around actively managing a Bitcoin treasury as a key component of its financial strategy. Just a few days prior, on June 13, the company purchased 74.27 BTC for £5.98 million, increasing its Bitcoin holdings by 43% since the last purchase.
Thus, The Smarter Web Company continues to actively expand its Bitcoin treasury, reflecting a growing trend among UK companies adopting cryptocurrency treasury strategies.
