# Capital B Plans Bitcoin Accumulation Through Capital-Market Financing

By John Kim

Canonical URL: https://www.tokenpost.com/news/business/24690
Published: 2026-09-28T02:07:11.000Z
Updated: 2026-09-28T02:07:11.000Z
Section: Business

> The French Bitcoin treasury company held 3,525 BTC as of Sept. 14 and is using equity offerings, warrants and other capital-market tools to fund purchases.

Capital B plans to accelerate its Bitcoin (BTC) accumulation through equity offerings, warrants and other financing tools, extending a treasury strategy focused on increasing BTC per fully diluted share.

The French Bitcoin treasury company held 3,525 BTC as of Sept. 14, with an acquisition value of €309.7 million and an average cost of €87,854 per Bitcoin. Its Sept. 14 disclosure listed a 4 BTC purchase for €270,000, funded through a €249,651 capital increase under an ATM-style agreement with TOBAM.

The disclosure did not confirm an additional purchase alongside the company’s accumulation strategy. Capital B has described its approach as acquiring as much Bitcoin as possible, as quickly and efficiently as possible, while measuring progress by Bitcoin held per fully diluted share rather than only by its total BTC balance.

Capital B announced a €21.0 million private placement with institutional investors on Aug. 28. The financing involved 36,219,070 shares, each carrying four warrants. The company projected that the proceeds could support the purchase of 270 additional BTC, but that figure was not a completed acquisition.

By Sept. 7, Capital B had completed capital raises totaling €28.7 million and acquired 376 BTC for €25.3 million, bringing its holdings to 3,521 BTC. The company’s Sept. 14 disclosure showed a 2.19% year-to-date “BTC Yield” and a 61.9 BTC year-to-date “BTC Gain.”

The Aug. 28 warrants could generate an additional €135.8 million if fully exercised, although the proceeds are not guaranteed. Capital B separately held 61 BTC for operational needs and excluded those holdings from its Bitcoin treasury-strategy performance indicators.

Swissquote Bank Europe is Capital B’s sole Bitcoin custodian, using Taurus’ custody technology. Capital B plans to use capital-market financing for future Bitcoin accumulation.