The Smarter Web Company has once again increased its digital asset reserves, this time adding 10 Bitcoin to its corporate treasury. The acquisition, disclosed on May 26, was executed at an average price of £55,786 per coin, totaling £557,865. This latest purchase brings the firm’s total Bitcoin stash to 2,869 BTC.
Significantly, the buying price sits well below the company’s overall average cost basis of approximately £81,032 per Bitcoin. The entire investment in the cryptocurrency now stands at roughly £232.48 million, based on disclosures. The firm’s move comes as it continues to utilize an £18 million credit line from Coinbase, secured against its existing Bitcoin holdings. The leverage ratio associated with this facility is about 12.19%, with interest rates ranging between 6.75% and 7.25%.
The company reported a quarter-to-date Bitcoin yield of 15.43%, a metric management uses to evaluate the growth of its Bitcoin reserves relative to its diluted share count. The Smarter Web Company, which started accepting Bitcoin payments back in 2022, has steadily incorporated the cryptocurrency into its financial strategy alongside its core web services business.
On a broader scale, the firm now ranks 27th among publicly listed companies with Bitcoin treasuries. This activity mirrors a growing trend among listed firms, such as Strive and Strategy, which have also been actively expanding their Bitcoin holdings through various financial maneuvers. The Smarter Web Company aims to continue building its Bitcoin position while pursuing acquisitions to strengthen its client base and recurring revenue streams.