Paris-listed bitcoin treasury firm Capital B acquired 376 BTC for €25.3 million ($29.4 million) on Monday. The purchase marks the firm's biggest individual buy over a twelve-month span and follows new capital injections from Blockstream’s Adam Back into the company’s latest equity raise.
The acquisition was funded by two financings closed on the same day, according to a statement from Capital B on September 7. One funding source was a €1.44 million top-up at €0.51 a share through an at-the-market program with asset manager TOBAM. The larger tranche involved a private placement of shares with warrants, raising 28.7 million euros (about $33.3 million) at 0.58 euros per share from institutional buyers.
Blockstream chief Adam Back fully subscribed to a €7.6 million ($8.8 million) tranche completed on September 2, as well as an earlier €21 million block that closed on August 28, where he participated as a strategic investor. These two capital injections elevated his stake in Capital B's ordinary shares to 17.64%.
Capital B stated that Monday's purchase of 376 BTC brought its total treasury holdings to 3,521 bitcoin, acquired for a cumulative €309.4 million ($359.3 million). This equates to an average purchase price of €87,878 (about $102,058) per coin, which is above the trading price of approximately $79,000 recorded on Monday. Bitcoin had previously reached a local high near $81,700 the preceding Thursday before experiencing a pullback.
The latest acquisition represents Capital B's largest purchase since September 2025, when it added 551 BTC. The company, formerly known as The Blockchain Group, rebranded to Capital B in July 2025 with a focus on maintaining a bitcoin-first balance sheet.
During an annual meeting on June 17, shareholders overwhelmingly approved authorizations for up to €5 billion in new equity and €100 billion in credit instruments, supporting a long-term target of acquiring 210,000 BTC by 2033. Capital B is also developing a bitcoin-backed credit instrument for European investors aimed at delivering double-digit yields with under 10% volatility, though no launch date has been finalized.
