The Smarter Web Company Raises £41.2 Million, Bitcoin Holdings Surge 80% in 10 Weeks

On June 29, Tim Lamb shared a detailed analysis of The Smarter Web Company (SWC.AQ), highlighting its potential despite a 68% drop from its peak. SWC’s shares are currently trading near £2.00, with a market cap of around £676 million. The company holds bitcoin worth about £42 million and cash reserves near £72 million. Its net asset value (NAV) stands at roughly £114 million, reflecting steady asset growth. These figures underscore SWC’s solid financial foundation amidst recent price declines.

The Smarter Web Company, a UK web design firm, employs a unique bitcoin treasury strategy. It went public on April 25, 2025, on the Aquis Stock Exchange, with an IPO valuing the company at £3.7 million and shares priced at 2.5p. Within two months, the stock surged approximately 80 times, ranking among the fastest-growing UK IPOs. This rapid growth, while beneficial for early investors, indicates that the company is still in the early stages of its public market development.

Leadership significantly influences SWC’s strategy and operations. CEO Andrew Webley, who founded the company in 2009, previously worked as Head of Online at Hargreaves Lansdown. Webley’s leadership style emphasizes transparency and shareholder engagement. Non-executive director Tyler Evans, co-founder of UTXO Management, brings experience with bitcoin treasury companies. In June 2025, Jesse Myers joined as Bitcoin Strategy Consultant, offering expertise in bitcoin valuation and investor frameworks.

SWC’s bitcoin strategy mirrors that of Michael Saylor’s organizations. The company raises capital by selling shares and uses the proceeds to buy bitcoin gradually. This dollar-cost averaging strategy helps increase bitcoin holdings per share consistently. SWC has conducted several capital raises targeting institutional and retail investors. The most recent raise in late June secured £41.2 million. Additionally, SWC employs an ATM-style program allowing controlled broker sales to fund bitcoin purchases continuously.

The company’s rapid capital raising and bitcoin accumulation define its investment appeal. Management has completed multiple oversubscribed fundraising rounds, often raising tens of millions within hours. SWC acquired 1,000 bitcoins in about 10 weeks, a faster pace than similar firms. This quick accumulation, combined with current bitcoin market conditions, suggests the company’s NAV could rise further. The NAV might eventually match or surpass the market capitalization.

However, several risks remain for the company and investors. One concern is the stock’s premium over NAV decreasing and staying low, which could slow capital raises and bitcoin acquisitions. Competition is increasing among UK companies adopting bitcoin treasury strategies. SWC’s bitcoin holdings and acquisition speed set it apart from competitors. Key person risk exists, but hiring Jesse Myers helps reduce this risk. Bitcoin’s price volatility also poses ongoing challenges to asset values.

The current market environment presents unique challenges and opportunities for SWC. The company continues to raise capital and expand its bitcoin reserves quickly. These efforts position it as a leading bitcoin treasury company. Although risks persist, experienced leadership and a disciplined acquisition plan may benefit performance. How the bitcoin market evolves will shape the company’s results for the rest of the year. The digital asset sector remains volatile but full of potential for companies like SWC.