Smarter Web Raises £41.2M, Boosts Bitcoin Holdings by 460.28% in June

The Smarter Web Company, a UK-based web design and marketing firm, has successfully raised £41.2 million ($56.59 million) through institutional investors. This fundraising effort comes just days after the company purchased 196.8 Bitcoins to bolster its cryptocurrency holdings. The company announced this purchase on its X post, highlighting that this initiative is part of its 10-year plan. The firm has raised the amount to fund its operations, with most of the money, approximately £36.27 million ($49.8 million), raised through an accelerated bookbuild process. This process involves large investors quickly purchasing shares within a day or two with minimal advertising.

Additionally, £4.97 million ($6.82 million) was raised through a subscription, where investors agreed to buy shares directly. Each share was sold for £2.9 ($3.98), and these new shares will officially start trading on 1st July. The raise follows the company’s aggressive Bitcoin acquisition strategy. On Tuesday, the firm spent over $20 million to acquire 196.8 BTC at an average price of $103,290 per Bitcoin. Now the firm has total holdings of 543.52 BTC. The firm has made five Bitcoin purchases in June, increasing its stash from 83.24 BTC at May’s end to 543.52 BTC, a rise of 460.28 BTC in under a month.

The Smarter Web Company began its Bitcoin treasury strategy in April and has accepted Bitcoin payments since 2023. Despite the firm’s growth in crypto assets, its stock price faced pressure. The company's aggressive Bitcoin acquisition strategy is part of a broader initiative to integrate cryptocurrency into its financial operations, reflecting a growing trend among companies to diversify their asset holdings. This move not only demonstrates the company's confidence in the future of Bitcoin but also its commitment to staying ahead of technological and financial trends.