UK web firm raises $56M just days after spending $20M on Bitcoin.
- The company now holds over 540 Bitcoin worth $58M.
- Stock price fell 15% despite the new funding and investment.
- The firm raised money fast through institutional investors.
Company Raises $56 Million in New Funds
The Smarter Web Company, based in the UK, raised $56.59 million from institutional investors. The funding came through a process called accelerated bookbuild. This method allows companies to gather money quickly, often in just one or two days. There was no public promotion. The offer price was $3.98 per share.
The total raise included $49.8 million from the bookbuild and another $6.82 million through subscription. Stocks tied to this offer will be active starting July 1.
Bitcoin Investment Strategy Ramps Up
Just two days before the funding news, the company announced it had bought 196.8 Bitcoin. The purchase cost over $20 million at an average price of $103,290 per coin. The company now holds 543.52 Bitcoin in total. The current value of this Bitcoin stash is about $58.19 million.
The company started its Bitcoin strategy in April 2025. It has made five Bitcoin buys in June alone. At the end of May, it had only 83.24 BTC. That means it added 460.28 BTC in less than one month. The company has also accepted Bitcoin as payment since 2023.
Market Reaction Mixed as Stocks Drop
Even with the large Bitcoin investment and new funding, the stock price fell. On Thursday, shares fell by 15% to close at $3.56. They dropped as low as $3.19 during the day. After-hours trading saw a further 1.8% drop, pushing the price to $3.49. Despite this dip, the stock is still up 274% compared to the start of the year.
More UK Companies Join Bitcoin Trend
The Smarter Web Company isn’t alone. Other UK firms are also investing in Bitcoin. Recently, Vinanz bought 37.72 BTC, bringing its total to 58.68 BTC. In April, Abraxas Capital spent over $250 million on Bitcoin. This trend is growing even though the UK lacks clear crypto laws
Source: cointelegraph.com