Capital B, described as Europe's first bitcoin treasury company and listed on Euronext Growth, announced a €21 million ($24 million) private placement backed by Blockstream CEO Adam Back and asset manager TOBAM.
The company sold 36,219,070 shares at €0.58 each, representing a 6.45% discount to the previous trading day's closing price. After accounting for fees and transaction costs, net proceeds are expected to reach approximately €19.9 million.
Capital B stated the funds could be used to acquire roughly 270 additional bitcoin, bringing its total holdings to approximately 3,415 BTC. The company currently holds 3,145 bitcoins, positioning it as the 27th largest publicly traded bitcoin treasury globally.
The fundraising reflects broader activity in the corporate bitcoin treasury space. Capital B built much of its current position through multiple capital raises during the first half of 2026, including an acquisition of 192 coins for €13 million in May.
The announcement comes as other companies pursue similar strategies. This week, NYSE-listed Genius Group announced plans to build combined AI and bitcoin treasuries valued at $1.6 billion, though the company previously sold its entire bitcoin reserves to repay $8.5 million in debt.
Bitcoin treasuries have faced challenges since 2025, when several companies liquidated holdings amid market pressures, including major corporate bitcoin holders.
