Bitcoin News Today: Smarter Web Boosts Bitcoin Holdings by 295 BTC in $35M Purchase

The Smarter Web Company, a UK-based firm specializing in web design and Bitcoin treasury management, has significantly expanded its Bitcoin holdings by acquiring 295 BTC in recent weeks, at an average cost of $119,412 per Bitcoin. This purchase, valued at $35.2–35.35 million, brings its total Bitcoin holdings to 2,395 BTC, now valued at approximately $285 million, according to publicly available data [1][2][3][4]. The company’s portfolio currently shows a paper profit of around 7.6%, or roughly $20 million, as Bitcoin’s market price remains near $119,000 [1].

The acquisition followed a recent capital raise of approximately £7.63 million (around $10.17 million), achieved through the issuance of 3,452,086 new ordinary shares at an average price of £2.21 per share [4]. The funds are expected to largely settle by the end of the week and will support further Bitcoin purchases and strategic business development. The company also retains a cash balance of $942,000, which may be used for additional Bitcoin acquisitions. The firm has an additional 4.49 million shares remaining in its current 14 million share subscription batch, and plans are in place for a similar offering to follow once this batch is completed [1].

The Smarter Web Company’s growing Bitcoin treasury has bolstered its market position. According to Bitcoin Treasuries data, it ranks within the top 25 publicly traded companies with Bitcoin holdings and leads the UK in this category [1]. The company’s market capitalization stands at $415.2 million, with a market-to-net asset value (mNAV) ratio of 1.46x, slightly below that of Strategy at 1.52x [1].

Under the leadership of CEO Andrew Webley, the firm has pursued a bold strategy, having previously announced Bitcoin purchases exceeding 1,500 BTC in July, which pushed the company up in public company rankings from 36th to 23rd [1]. Webley has expressed ambitions to break into the top 20 within weeks, with the top 10 occupied by firms such as Strategy, MARA, and Tesla [1]. The firm’s “10 Year Plan,” guided by David Bailey and UTXO Management, emphasizes organic growth and strategic Bitcoin acquisitions to create long-term value [4].

The company’s Bitcoin treasury performance has been extraordinary, with a reported year-to-date “BTC Yield” of 55,069% and a 30-day yield of 76%, underscoring the asset’s growing role in its financial portfolio [4]. The company maintains a transparent dashboard for shareholders, offering real-time data on Bitcoin valuation and key performance indicators [4]. Plans are also in place to enhance this dashboard with a proprietary performance metric for deeper insights [4].

The Smarter Web Company generates revenue through web design, development, and online marketing services, charging setup, annual hosting, and optional monthly fees. Since 2023, it has accepted Bitcoin payments and formalized a Bitcoin treasury policy. The firm’s listing, achieved via a reverse merger in April, saw its shares surge nearly 20,000% to 605 pence, before dropping 70% to 192.66 pence following the Bitcoin treasury announcement [4].

The company’s latest Bitcoin purchase aligns with a broader trend of corporate adoption, with an increasing number of firms treating Bitcoin as a strategic reserve asset [5]. The Smarter Web Company continues to position itself as a key player in this evolving landscape [4].

Source:

[1] The Smarter Web Company acquires another $35 million ... (https://www.theblock.co/post/366520/the-smarter-web-company-bitcoin-2395-btc)

[2] The Smarter Web Company Expands Bitcoin Holdings ... (https://en.coin-turk.com/the-smarter-web-company-expands-bitcoin-holdings-with-major-purchase/)

[3] The Smarter Web Company Buys 295 BTC Amid $118K Dip (https://www.coinspeaker.com/the-smarter-web-company-acquires-295-bitcoin-btc-118k)

[4] Smarter Web Company Adds 50 BTC, Treasury Tops ... (https://coinfomania.com/smarter-web-company-adds-50-btc-treasury-tops-2100-bitcoin/)

[5] Bitcoin News Today: Metaplanet and Smarter Web Add ... (https://www.ainvest.com/news/bitcoin-news-today-metaplanet-smarter-web-add-100m-bitcoin-corporate-holdings-2508/)