Capital B has raised 15.2 million euros ($17.8 million) from strategic investors, including Adam Back and TOBAM, as the firm continues expanding its Bitcoin treasury holdings.
The funding was completed through a private share placement, with four share subscription warrants attached to each share at a fixed price of $0.78, the company announced Monday.
According to Capital B, the fresh capital and operational cash flow could support the purchase of an additional 182 BTC, potentially increasing the firm’s total holdings to 3,125 Bitcoin.
Alexandre Laizet, the company’s board director for Bitcoin strategy, said that if all warrants linked to the financing round are exercised, the company could raise an additional $116.5 million through the issuance of roughly 92 million new shares.
The latest fundraising round suggests Capital B remains committed to aggressive Bitcoin accumulation even as parts of the corporate crypto treasury sector shift toward more defensive strategies, including hedging, debt reduction and asset liquidations amid softer market conditions.
The announcement follows another recent investment from Adam Back, who provided approximately $1.3 million to help accelerate the company’s Bitcoin treasury expansion plans last week.
Capital B shares climbed about 4.3% following the fundraising announcement on Monday, trading near 0.67 euros ($0.79) at the time of writing.
Despite the recent gain, the company’s stock remains down roughly 11% since the start of the year, according to data from Yahoo Finance.
Capital B currently ranks as the world’s 25th-largest corporate Bitcoin holder, with 2,943 BTC valued at roughly $237 million. According to Bitcointreasuries data, it is also Europe’s second-largest Bitcoin treasury firm behind Bitcoin Group SE.
The latest fundraising activity comes amid a slowdown in new capital raises across the corporate Bitcoin treasury sector. On April 20, Strategy, led by Michael Saylor, raised an additional $2.5 billion through the issuance of Stretch (STRC) securities and sales of Class A common stock.
A few days later, on April 23, XCE secured about $794,000 in funding through a financing round backed by Adam Back.
Outside of those transactions, few Bitcoin treasury firms have announced new funding rounds over the past six weeks. Instead, several companies have shifted toward defensive strategies aimed at reducing downside risk during weaker market conditions.
On April 24, Nasdaq-listed Nakamoto unveiled an actively managed Bitcoin derivatives strategy designed to generate recurring income from market volatility while partially hedging its BTC exposure. The company had previously disclosed the sale of 284 Bitcoin — worth around $20 million at the time — in a March 30 filing with the US Securities and Exchange Commission.
Meanwhile, in February, Genius Group revealed that it liquidated its remaining 84 BTC holdings for approximately $5.7 million. According to a filing with the SEC, the proceeds were used to help repay an $8.5 million debt obligation.
