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The Smarter Web Company, a London-listed web design and bitcoin treasury firm, has boosted its crypto reserves with the acquisition of 295 BTC for £26.3 million ($35.2 million) at an average price of £89,000 ($119,412) per coin. This move follows a £7.6 million fundraise from the placement of 3.45 million new shares, part of an ongoing 14 million share subscription. With 4.49 million shares still to be placed, the firm plans another subscription agreement once the current tranche closes.
This latest purchase raises the company’s total bitcoin holdings to 2,395 BTC, acquired at an average price of £82,399 ($110,555) for a total spend of £197.3 million ($264.8 million). Valued at $284.8 million with bitcoin trading near $118,917, the firm holds an unrealized gain of about $20 million. It also retains £700,000 ($942,000) in cash earmarked for further bitcoin buys.
Rapid acquisitions in recent months have propelled the company to 23rd place among public bitcoin treasury holders, up from 36th in July. CEO Andrew Webley aims to break into the top 20 within weeks, positioning the firm alongside global crypto giants like MicroStrategy, Tesla, and Coinbase.
