UK Firm B HODL Turns Bitcoin Treasury into Lightning Network Engine

UK-listed firm B HODL Plc has initiated its Bitcoin treasury strategy by acquiring 100 BTC for approximately £8.4 million ($11.3 million), positioning itself among the top 100 public Bitcoin treasury companies globallytitle1^[1]. The purchase, executed at an average price of £83,872 per BTC, places B HODL at rank 98 on Bitcoin Treasuries datatitle2^[2]. The company, which listed on the Aquis Stock Exchange in London on Monday under the ticker “HODL,” raised £15.3 million ($20.7 million) to fund its strategytitle1^[1]. Its shares have surged 34.7% since listing, trading at £21.55 ($29.06) as of early Wednesdaytitle1^[1].

B HODL’s strategy centers on building a long-term Bitcoin reserve to power its Lightning Network operations. The firm aims to utilize its treasury to operate high-ranking Lightning nodes, which will provide scalable liquidity and generate routing fees from micropaymentstitle1^[1]. This approach aligns with broader corporate trends, such as MicroStrategy’s 639,835 BTC holdings ($72 billion) and Smarter Web’s 2,525 BTC ($284.4 million), which ranks 29th globallytitle1^[1]. While B HODL’s 100 BTC acquisition is modest compared to industry leaders, it reflects growing institutional interest in Bitcoin as a corporate asset.

The firm’s governance includes Freddie New, a former solicitor and co-founder of Bitcoin Policy UK, as CEO, alongside Blockstream CEO Adam Back, who owns 25.5% of issued sharestitle1^[1]. CoinCorner, a UK-based exchange holding 14.3% of B HODL’s capital, also supports the initiative. The company’s dual focus on treasury accumulation and Lightning Network integration distinguishes it from traditional Bitcoin holders, such as miners or speculative investorstitle1^[1].

B HODL’s entry into the Bitcoin treasury market coincides with a broader UK trend, where nine firms have recently announced Bitcoin purchasestitle3^[3]. Smarter Web’s rapid ascent from a £4 million market cap to £1 billion following its BTC acquisitions highlights the potential for stock price volatility linked to treasury strategiestitle3^[3]. Meanwhile, B HODL’s market capitalization of £30.78 million ($41.35 million) and its current 98th global ranking indicate a nascent but strategic position in the competitive landscapetitle2^[2].

Analysts note that Bitcoin treasuries are increasingly viewed as a hedge against inflation and a means to diversify corporate assetstitle4^[4]. However, the strategy carries risks due to Bitcoin’s volatility, as seen in the mixed performance of listed companies like GameStop and Cangotitle4^[4]. B HODL’s emphasis on Lightning Network operations adds a revenue-generating dimension, potentially mitigating some risks through recurring fees. This model contrasts with passive holding strategies, such as those of MicroStrategy, which focuses solely on balance sheet appreciationtitle4^[4].

The UK’s regulatory environment is also evolving to support crypto adoption. The Financial Conduct Authority’s recent proposal to ease restrictions on crypto-linked retail products and HM Revenue and Customs’ 2026 mandate for detailed transaction reporting signal a shift toward institutional acceptancetitle3^[3]. These developments could bolster B HODL’s strategy, as regulatory clarity often correlates with increased investor confidence in digital assets.

B HODL’s initial steps underscore the maturing of Bitcoin as a corporate asset class. While it remains a distant second to Smarter Web in UK holdings, its strategic focus on Lightning Network integration and institutional partnerships positions it to capitalize on growing demand for scalable crypto infrastructure. As the market for Bitcoin treasuries expands, B HODL’s ability to balance treasury growth with operational revenue could determine its long-term success in a rapidly evolving sector.