The Smarter Web Company, a UK-based firm specializing in web design and marketing, has significantly expanded its Bitcoin reserves by acquiring an additional 230.05 Bitcoin for £17.97 million ($24.7 million).
The average cost was £78,103 ($107,126) per Bitcoin, according to a company filing released Tuesday.
This brings the company’s total holdings to 773.58 Bitcoin, accumulated at an average price of £78,022 ($107,015), with the firm’s Bitcoin investment now exceeding $82.6 million.
The move aligns with Smarter Web’s “10 Year Plan,” a long-term initiative launched in April under its Digital Assets Treasury Policy, which emphasizes Bitcoin accumulation as a driver of sustainable business value.
Following the latest purchase, the firm still retains about £38 million ($52.3 million) in cash earmarked for potential future Bitcoin acquisitions.
To fund its growing digital asset strategy, Smarter Web recently raised approximately £45 million ($62 million) through a series of subscriptions and accelerated bookbuilds.
These fundraising efforts reduced the ownership share of existing investors by 9%. Updated records show that CEO Andrew Webley and his family now own about 11.3% of the company.
Smarter Web began accepting Bitcoin for payments in 2023.
“The Company believes that Bitcoin forms a core part of the future of the global financial system and as the Company explores opportunities through organic growth and corporate acquisitions,” the company wrote in its filing.
This purchase reflects a broader trend among UK-listed firms.
In recent days, at least nine small-cap companies, many listed on the Aquis Exchange, have announced Bitcoin holdings or intentions to build them.
Among them is AI-focused Tao Alpha, which plans to raise £100 million ($137 million) to fund a Bitcoin-focused strategy, and Smarter Web itself, which recently acquired 196 Bitcoin as part of its growing reserve.