Swedish gaming and Web3 company Fragbite Group has unveiled plans to establish a Bitcoin treasury as part of a broader strategy to “future-proof” its balance sheet. The company has also appointed a dedicated director to oversee its treasury operations.
In a press release, Fragbite’s Board of Directors revealed the approval of a new business strategy focused on allocating a portion of the company’s profits to invest in Bitcoin. The company described BTC not only as a hedge against inflation but also as a transformative global monetary network capable of revolutionizing how businesses store value.
To support its Bitcoin acquisition strategy, Fragbite plans to raise capital through multiple initiatives, starting with the issuance of 0% convertible bonds valued at 5 million Swedish krona (approximately $530,000 USD). These bonds will offer a conversion price of 10 krona ($1.05) per share—representing a 110% premium to the 20-day volume-weighted average share price.
The company intends to finalize bond subscriptions in the near future.
Following the announcement, Fragbite Group’s stock (FRAG.ST) surged by as much as 64% within 24 hours, peaking at SEK 9.94 per share on June 30.
Fragbite emphasized that the shift toward Bitcoin will not significantly impact its core operations, noting that much of its business is already conducted in a “decentralized manner.”
Fragbite Group Appoints New Treasury Director
As part of its newly announced Bitcoin treasury initiative, Fragbite Group has introduced a new executive role within the company—Treasury Director. This position will be tied to a performance-based incentive program designed to generate value from Bitcoin holdings in alignment with shareholder interests.
The company has appointed Patrik von Bahr, Lead Game Designer at FunRock and a well-known Bitcoin advocate, to take on the role. Von Bahr emphasized the growing importance of tracking Bitcoin per share metrics and maximizing value from BTC reserves, calling these capabilities “fundamental” for future-facing companies.
“By being early movers in this paradigm shift, we look forward to establishing disproportionately high shareholder value in both the short and long term,” von Bahr stated.
Founded in 2015, Fragbite Group is a Swedish conglomerate comprising several subsidiaries focused on game development, adaptation, and publishing across gaming, esports, and Web3. Its products span PC, mobile, console, and blockchain-based platforms.
Headquartered in Stockholm, Fragbite Group is listed on the Nasdaq First North Growth Market.
