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UK’s The Smarter Web Company raises $56M days after big Bitcoin buy

UK’s The Smarter Web Company raises $56M days after big Bitcoin buy

CointimeCointime2025/06/28 21:56
By:Cointime

UK-based web design and marketing firm The Smarter Web Company has raised 41.2 million British pounds ($56.59 million), days after it purchased 196 Bitcoin to add to its growing holdings.

The firm  said  on Thursday that the raise came from institutional investors via accelerated bookbuild, a process where a company raises capital quickly, usually within one or two days, without any marketing push.

The Smarter Web Company raised 36.27 million British pounds ($49.8 million) with the bookbuild and a further 4.97 million British pounds ($6.82 million) by subscription. The offer price was 2.9 British pounds ($3.98) per share.

The company expects the stocks issued across both offerings will go into effect from July 1.

Raise comes days after holdings pass 540 Bitcoin 

The raise came two days after The Smarter Web Company  said  it spent over $20 million to buy 196.8 Bitcoin at an average price of $103,290 each.

The company held 543.52 BTC as of Tuesday, bought at an average price of $104,450, a stash that’s currently worth around $58.19 million.

UK’s The Smarter Web Company raises $56M days after big Bitcoin buy image 0   Source: The Smarter Web Company

The Smarter Web Company has purchased BTC five times in June so far, and its Bitcoin stack has increased  from  83.24 BTC at the end of May to 543.52 BTC, an increase of 460.28 BTC in less than 30 days.

The firm launched its Bitcoin treasury strategy in April, but has accepted Bitcoin as payment since 2023.

Stock price dwindles amid recent Bitcoin buys

In the US, The Smarter Web Company trades on the OTCQB, an over-the-counter market comprising early-stage or developing companies.

Shares in Smarter Web Company PLC (TSWCF) fell by 15% and closed Thursday at $3.56 after hitting an intraday low of $3.19,  according  to Google Finance.

UK’s The Smarter Web Company raises $56M days after big Bitcoin buy image 1     Smarter Web Company’s stock fell 15% during Thursday’s session. Source: Google Finance

Its shares fell another 1.8% after the bell and ended the after-hours session at $3.49. Despite the recent drop, the company’s stock is still up 274% year-to-date.

UK firms buy up Bitcoin

Other UK companies have been buying up Bitcoin despite the country’s  lack of clear laws  around digital assets. 

On Tuesday, Vinanz, a London Stock Exchange-listed firm that markets itself as a Bitcoin treasury company, said it  acquired  37.72 BTC to bring its total holdings to 58.68 BTC.

In April, London-based investment firm Abraxas Capital purchased Bitcoin worth  more than $250 million .

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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