Capital B Surpasses 2,900 BTC, Bolstering Its Strategic Bitcoin Reserve
Capital B announces the definitive acquisition of 12 bitcoins for 0.8 million euros, bringing its total reserve to 2,937 BTC. This move follows the exercise of warrants and a capital increase, strengthening the Bitcoin Treasury strategy of the group listed on Euronext Growth.
Financial Maneuvers to Secure Bitcoin Acquisition
Capital B executed three successive transactions to generate the necessary liquidity for this acquisition. The group first exercised 16,566,214 share subscription warrants (BSA 2025-01), which were converted into 2,366,602 ordinary shares for a total of 1.29 million euros. The rights of these BSAs expired on April 10, 2026, at midnight. Concurrently, Capital B completed its financing through an At The Market (ATM) capital increase with its partner TOBAM, raising 0.22 million euros at 0.60 euros per share. This increase mobilized 370,701 new shares, including 85,000 for the TOBAM Bitcoin Enhanced Fund, 204,400 for the TOBAM Bitcoin Alpha Fund, and 81,301 for the TOBAM Bitcoin Treasury Opportunities Fund. The combined proceeds from these three operations amounted to 1.51 million euros, enabling the acquisition of 12 BTC at a unit cost of 62,570 euros.
Strategic Reserve Growth and Performance
The group now holds 2,937 bitcoins with a total acquisition cost of 270.1 million euros, equivalent to an average price of 91,975 euros per bitcoin. This accumulation is part of a systematic strategy to build a strategic reserve. Since the beginning of 2026, the group has increased its holdings by 44.4 BTC, achieving a gain of 2.9 million euros. In the first quarter of 2026 alone, the net acquisition amounts to 24.4 BTC and a gain of 1.6 million euros. Capital B also notes that the group holds an additional 61 bitcoins for operational needs, which are segmented from the main reserve and excluded from key performance indicators.
BTC Yield and Asset Accumulation Metrics
The group's BTC Yield has reached 1.57% since the start of the year and 0.85% since the beginning of the quarter, reflecting an improvement in the bitcoin per diluted share ratio. This internal metric measures the evolution of the ratio between the total bitcoins held and the number of fully diluted shares in circulation. For informational purposes, each share of the group represents 732.3 satoshis (the smallest unit of bitcoin) on a fully diluted basis. Capital B emphasizes that this metric is neither a traditional financial yield nor a measure of historical or future return on investment for shareholders, but an internal tracking of its digital asset accumulation strategy per issued share.
