Capital B Buys 376 Bitcoin for $29.4M, Treasury Now 3,521 BTC

Capital B, a France‑listed company, announced the purchase of 376 BTC for approximately $29.4 million, bringing its total bitcoin treasury to 3,521 BTC.

Funding the Purchase

The acquisition was financed through recent equity raises, including a $33.3 million private placement with institutional investors such as Blockstream co‑founder Adam Back and asset manager TOBAM, plus a $1.67 million equity program with TOBAM.

Cost Basis vs. Market Value

Capital B has spent roughly $359.3 million to build its bitcoin reserve, at an average price of about $102,061 per BTC. The company values its current holdings at around $279.7 million, leaving an aggregate cost‑basis gap of about $80 million.

Metrics Reported by Capital B

• Year‑to‑date “BTC Yield”: 2.17% (736.6 satoshis per fully diluted share)
• Company‑defined “BTC Gain”: 61.3 BTC, valued at approximately $4.87 million

Implications for Shareholders

The strategy hinges on bitcoin price movements: a rise would improve the treasury’s value relative to the cost basis, while a decline would increase exposure to both price volatility and potential dilution from ongoing equity issuances.