Capital B Raises €17.15M, Buys 192 BTC to Grow Treasury

Capital B, a France-based bitcoin treasury company, announced on Monday that it raised about €17.15 million and used €13 million of the proceeds to purchase 192 BTC. The company now reports total holdings of 3,135 BTC purchased for an aggregate $330 million, an average of $105,270 per bitcoin.

The company finalized three separate capital increases to raise the funds. About €850,000 came through an ATM-style capital increase agreement with French asset manager TOBAM. Approximately €1.1 million was raised via the issuance of share subscription warrants, which Blockstream CEO Adam Back subscribed to. The largest tranche, roughly €15.2 million, was raised through a private placement of more than 23 million ABSA shares, each carrying four share subscription warrants.

Capital B deployed €13 million of the new capital to buy 192 BTC and updated its cumulative holdings to 3,135 BTC. The company provided the aggregate acquisition value of $330 million and the implied average purchase price of $105,270 per bitcoin for its total portfolio.

The company completed a rebrand in July 2025, changing its name from The Blockchain Group to Capital B to reflect a narrowed focus on building and managing a bitcoin treasury. The firm has repeatedly used equity issuances and subscription instruments, including private placements and warrants, to fund bitcoin purchases.

The financing combined a smaller direct capital increase with a larger private placement that attached multiple warrants to each share, giving investors additional subscription rights. Capital B described the proceeds as deployed to purchase bitcoin consistent with its stated treasury strategy.