Key Takeaways
- • Capital B raised €15.2 million in a capital increase priced at €1.70 per share through an ATM-type agreement with TOBAM, designed to fund approximately 10 additional Bitcoin acquisitions and expand its treasury holdings.
- • The company's Bitcoin holdings have grown substantially, with total treasury expanding to approximately 2,937 BTC following multiple capital raises and strategic acquisitions throughout 2024–2025, demonstrating consistent execution of its accumulation strategy.
- • Capital B, Europe's first publicly traded Bitcoin Treasury Company listed on Euronext Growth Paris, has achieved a year-to-date Bitcoin yield of 1,651.2%, reflecting the appreciation of its digital asset holdings alongside operational growth in subsidiaries focused on data intelligence, AI, and decentralized technology.
- • Strategic investors including Adam Back have participated in the fundraising, signaling institutional confidence in Capital B's treasury model and positioning the company as a leading publicly traded vehicle for corporate Bitcoin exposure in Europe.
Summary
Capital B, Europe's pioneering Bitcoin Treasury Company listed on Euronext Growth Paris, has announced a €15.2 million capital increase to accelerate its Bitcoin accumulation strategy. The fundraising was completed under an ATM-type agreement with TOBAM at €1.70 per share and is expected to enable the acquisition of approximately 10 additional Bitcoin. This latest capital raise represents the company's continued commitment to expanding its digital asset reserves while maintaining operational growth across its subsidiary operations.
The company's Bitcoin holdings have expanded significantly throughout 2024 and into 2025. Following a €58.1 million private placement to institutional investors completed earlier in the period, Capital B acquired 551 BTC for €54.7 million on September 22, bringing total holdings to 2,800 BTC at that time. Subsequent acquisitions and equity conversions have further expanded the treasury to approximately 2,937 BTC, with an aggregate acquisition cost of €270.1 million at an average entry price of approximately €91,975 per Bitcoin.
The capital raises reflect strong institutional investor appetite for publicly traded Bitcoin treasury vehicles. Strategic investors including Adam Back have participated alongside TOBAM in supporting Capital B's expansion. The company's strategy balances gradual increases in Bitcoin per fully diluted share with operational development of subsidiaries engaged in data intelligence, artificial intelligence, and decentralized technology consulting—creating a diversified revenue model beyond pure Bitcoin appreciation exposure.
Capital B's financial performance has been substantial. The company reported a year-to-date Bitcoin yield of 1,651.2%, underscoring the dual benefit of both strategic Bitcoin acquisition timing and the significant appreciation of Bitcoin's price during the period. Each successive capital raise has been strategically timed to fund additional accumulation, positioning the company as a principal European public vehicle for institutional investors seeking direct Bitcoin treasury exposure without direct cryptocurrency custody or operational complexity.
The company's Bitcoin holdings have expanded significantly throughout 2024 and into 2025. Following a €58.1 million private placement to institutional investors completed earlier in the period, Capital B acquired 551 BTC for €54.7 million on September 22, bringing total holdings to 2,800 BTC at that time. Subsequent acquisitions and equity conversions have further expanded the treasury to approximately 2,937 BTC, with an aggregate acquisition cost of €270.1 million at an average entry price of approximately €91,975 per Bitcoin.
The capital raises reflect strong institutional investor appetite for publicly traded Bitcoin treasury vehicles. Strategic investors including Adam Back have participated alongside TOBAM in supporting Capital B's expansion. The company's strategy balances gradual increases in Bitcoin per fully diluted share with operational development of subsidiaries engaged in data intelligence, artificial intelligence, and decentralized technology consulting—creating a diversified revenue model beyond pure Bitcoin appreciation exposure.
Capital B's financial performance has been substantial. The company reported a year-to-date Bitcoin yield of 1,651.2%, underscoring the dual benefit of both strategic Bitcoin acquisition timing and the significant appreciation of Bitcoin's price during the period. Each successive capital raise has been strategically timed to fund additional accumulation, positioning the company as a principal European public vehicle for institutional investors seeking direct Bitcoin treasury exposure without direct cryptocurrency custody or operational complexity.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.