Capital B Expands Bitcoin Treasury to 2,925 BTC

TLDR

• Capital B purchased 37 BTC for $2.3 million at $60,892 per coin.
• The company now holds 2,925 BTC at an average cost of $92,096.
• Year-to-date BTC Yield stands at 1.25% with a 35.3 BTC Gain.
• Capital B issued 36,613,919 shares through OCA B-01 bond conversions.
• Fully diluted share capital now represents 730 satoshis per share.

Capital B expanded its Bitcoin treasury after converting debt and raising new equity capital. The company increased holdings to 2,925 BTC and reported updated treasury metrics. It also issued new shares following bond conversions and warrant exercises.

Capital B Lifts Bitcoin Holdings to 2,925 BTC

Capital B confirmed the purchase of 37 BTC for $2.3 million at $60,892 per coin. As a result, the company now holds 2,925 BTC acquired for $269.4 million. The average acquisition cost stands at $92,096 per bitcoin.

The company reported a year-to-date BTC Yield of 1.25% as of 2026. It posted a BTC Gain of 35.3 BTC and a BTC € Gain of $2.2 million. Quarter-to-date, BTC Yield reached 0.53%, with a 15.2 BTC Gain and 0.9 million euro gain.

Capital B stated that it calculates these indicators for transparency and tracking. The company said it will continue publishing BTC Yield and related metrics. It described these figures as supplemental indicators for equity-based bitcoin accumulation.

The group also disclosed that it holds 60 BTC for operational needs. It segregates these coins from the reserve supporting Bitcoin Treasury KPIs. Therefore, treasury metrics exclude those operational holdings.

Capital B Completes Debt Conversions and Share Issuances

Capital B completed conversions of its OCA B-01 convertible bonds into ordinary shares. Blockstream Capital Partners converted 17,897,600 bonds into 32,900,000 shares at $0.544 per share. UTXO Management converted 2,020,372 bonds into 3,713,919 shares under the same terms.

In total, the company issued 36,613,919 new shares through debt set-off. Both investors also exercised rights linked to BSA 2025-01 warrants granted in 2025. These adjustments followed legal provisions tied to earlier financing agreements.

Blockstream subscribed to 4,700,000 new shares at $0.544 per share for $2.56 million. UTXO Management subscribed to 530,559 shares for $0.29 million. Together, these subscriptions raised $2.85 million in fresh cash.

The company also reported the exercise of 4,464,712 BSA 2025-01 warrants. These warrants converted into 637,816 shares for $0.35 million. The remaining warrants expired worthless at midnight on April 10, 2026.

In March, Capital B announced a $3 million capital raise. The funding received backing from TOBAM and UTXO Management. The company amended existing convertible bonds to accelerate its Bitcoin treasury strategy.

Capital B stated that this funding could support the purchase of about 36 additional Bitcoin. It projected total holdings could reach around 2,880 BTC under that plan. After recent purchases, total holdings stand at 2,925 BTC.

Following these transactions, the issued share capital reached 272,210,021 shares. The fully diluted share base stands at 397,622,899 shares. On this basis, Capital B reports 730 satoshis per fully diluted share.

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