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Smarter Web Raises £17.5M to Advance Its Bitcoin Strategy and Business Expansion

Highlights:

  • Smarter Web has raised £17.5 million by selling new shares to expand its Bitcoin holdings.
  • The company now holds 1600 BTC as part of a strategy to build long-term value through a digital asset treasury.
  • New capital will support web services growth and selective acquisitions that match long-term client needs.

Smarter Web Company, a web design and marketing firm in the United Kingdom, has completed a share sale of £17.5 million to institutional investors. The company issued 5,947,099 new shares at £2.95 each, identical to the firm’s closing market price on July 17. The company stated that the new shares will start trading on July 23.

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These shares will carry full voting rights and equal access to dividends, just like the existing ones. The total share count will be approximately 265.6 million after the listing. This number allows investors to monitor their holdings and decide whether they should report changes. The capital raise adds to the firm’s growing resources as it pursues its Bitcoin-focused plan.

Since its IPO, the company has consistently raised funds through similar placements. The funding has played a major role in building its Bitcoin position and expanding its operations.

Bitcoin Strategy Drives Treasury Expansion and Investor Focus

Smarter Web has been accumulating its Bitcoin holdings through large purchases in July. The company acquired 325 BTC on July 16 at an average price of £83,525. Just days earlier, it had bought 275 BTC at an average price of $108,182. The total Bitcoin holdings of the company now stand at 1,600 BTC.

The company introduced its Bitcoin treasury strategy in April and has been adding to its balance sheet. This approach places Smarter Web among the top 25 institutional Bitcoin holders worldwide. Management has explained that Bitcoin forms a key part of its financial plan but does not change the company’s overall identity.

Smarter Web tracks its Bitcoin position through a metric called BTC Yield. The measure compares the number of bitcoins held to the number of shares in circulation. The firm uses the data to monitor the impact of Bitcoin on shareholder value. Although the company feels Bitcoin will make its treasury stronger, the company has said that it is not a digital asset fund.

New Capital to Support Organic Growth and Selective Acquisitions

In addition to increasing its Bitcoin investments, Smarter Web intends to invest the capital into its core business. The company is also planning to look into acquisition opportunities that can assist in sustainable client development. It will only look at acquisition targets that add value via service extension or a new, complementary client base. Management has emphasized that timing and strategic fit will guide acquisition choices.

Other companies are also raising funds to boost their Bitcoin holdings and business strategies. American Bitcoin recently raised $220 million in a round of private share sales. The firm intends to use the funds to deploy operations and enlarge its Bitcoin holdings. In addition, Metaplanet recently added 797 BTC to its treasury in its bid to reach a target of 21,000 BTC by 2027. The trend underscores an increasing desire by companies to use Bitcoin as part of their financial strategy.

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