Capital B Raises €21M at 6.45% Discount, Eyes 3,415 BTC Stack
Capital B sold 36.2 million shares at €0.58 to raise €21M, money it says could add 270 BTC to its 3,145-BTC treasury.
Capital B, the Euronext Growth-listed bitcoin treasury company, said Friday it raised €21 million ($24 million) through a private placement priced at €0.58 a share, a 6.45% discount to Wednesday’s closing price. The company said net proceeds of roughly €19.9 million, after fees, could fund the purchase of about 270 more bitcoin, lifting its holdings toward 3,415 BTC. The terms come from Bitcoin Magazine’s report of the company’s own disclosure; no second outlet independently confirmed the share count or discount figure.
Capital B currently holds 3,145 bitcoin, a stash Bitcoin Magazine valued at $245 million using a bitcoin price of $77,960. That places the firm 27th among publicly traded bitcoin treasuries worldwide, according to data from Bitcoin Treasuries cited in the report.
The Raise, By the Numbers
The private placement involved 36,219,070 new shares sold at €0.58 each. Blockstream co-founder Adam Back and French asset manager TOBAM backed the round. Capital B, which brands itself Europe’s first bitcoin treasury company, said the funds are meant to accelerate its bitcoin-buying strategy rather than cover operating costs.
This is not Capital B’s first raise this year. In May, the company added 192 coins for €13 million after completing three separate capital rounds. The August placement follows the same pattern: sell equity at a discount, convert proceeds into BTC, disclose the target coin count before the purchase is confirmed.
Two Bitcoin Prices, One Day Apart
One detail worth flagging for anyone pulling numbers from either report: Bitcoin Magazine’s valuation used a bitcoin price of $77,960, while a separate Cryptonews market snapshot from around the same period put BTC closer to $79,650. That is a gap of roughly $1,690.
Neither figure is wrong. They are simply different last-known values captured at different moments, a reminder that a treasury’s dollar-denominated holdings shift by the hour even when the coin count does not. Readers comparing Capital B’s $245 million figure against other treasury disclosures should check the timestamp behind each price, not just the headline number.
Part of a Wider Treasury Push
Capital B’s raise lands amid a broader scramble among listed companies to expand or restructure bitcoin holdings. Bitcoin Magazine reported that NYSE-listed Genius Group this week outlined plans for parallel AI and bitcoin treasuries worth a combined $1.6 billion, after first selling its entire bitcoin reserve to repay $8.5 million in debt.
Capital B’s own trajectory shows how quickly a small treasury can scale through repeated discounted placements: from 192 coins added in May to a stack potentially exceeding 3,400 BTC by early autumn, funded almost entirely through equity sales rather than operating cash flow.
The 270-BTC purchase target has not yet been confirmed as executed. Capital B’s next disclosure, whenever it lands, will show whether the €19.9 million in net proceeds actually converted into coins at the price the company expected when it announced the raise.
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