According to reports from crypto.news, Capital B purchased five Bitcoin for €0.28 million, bringing its strategic Bitcoin treasury to 3,145 BTC. The latest acquisition was completed at an average price of €55,882 per Bitcoin, with the total acquisition cost reaching €284.2 million or €90,352 per BTC. The company's Bitcoin reserve now carries a reported €170.9 million net value, representing a €113.3 million discount to its total acquisition cost. As reported by crypto.news, the company didn't tap a corporate cash pile for this acquisition, instead financing it through an at-the-market capital raise. The acquisition was facilitated by Swissquote Bank Europe, which now custodies the additional 5 BTC for the company.
As reported by crypto.news, the purchase followed €0.30 million of capital increases completed through Capital B's ATM-type agreement with French asset manager TOBAM. The company issued 647,110 ordinary shares at an average rounded price of €0.47 between July 27 and August 7. This issuance price represented a 3.52% premium to Capital B's August 14 closing price of €0.454, with the stock closing Friday at €0.454, down 2.72% for the session. The company confirmed the successful conversion of all 14.195 million OCA B-01 convertible instruments held by Blockstream into ordinary shares, making the cap table cleaner for future equity raises. The company waived shareholders' pre-emptive rights to facilitate this funding strategy.
According to crypto.news, Capital B reported a year-to-date BTC Yield of 2.14%, alongside a BTC Gain of 60.3 BTC and a BTC € Gain of approximately €3.3 million. The company's BTC per fully diluted share remained at 736.4 satoshis, unchanged from August 3. The BTC Yield metric, borrowed from the MicroStrategy reporting framework, measures how much the company's Bitcoin holdings per share have grown, stripping out the dilutive effect of new equity issuances. Since launching its Bitcoin treasury strategy on November 5, 2024, under its former name The Blockchain Group, the firm has grown its holdings from around 2,000 BTC in mid-2025 to the current 3,145 BTC. The company's strategy centers on increasing the number of bitcoins per fully diluted share over time, targeting investors seeking equity exposure to bitcoin-backed treasury operations.
The latest acquisition comes as Capital B operates in a challenging market environment where MicroStrategy recently disclosed its $216 million Bitcoin sale, marking its largest crypto liquidation yet. As reported by Bernstein's flow analysis, corporate treasury buying has been the main contributor to offsetting negative ETF flows, with Strategy highlighted as the primary contributor. Following MicroStrategy's announcement, MSTRMSTR shares fell nearly 5% at open and BTC slipped nearly 1% in the first hour before recovering to just above $62,000. The market reaction demonstrates how sensitive prices are to the possibility that key marginal buyers may no longer be purely supportive. For now, the market remains stuck between $63,000 and the July 22 high of $66,601.18, with the cleanest invalidation occurring if renewed net buying from Strategy combines with positive spot ETF flows.
