Capital B is seeking shareholder approval for new financing authorization to expand its funding for future Bitcoin purchases. Company disclosures indicate that the proposal would authorize the board to increase capital by up to €5 billion and issue debt instruments with a nominal value of up to €100 billion to advance its Bitcoin treasury strategy.
The company stated that its goal remains to continue increasing "the number of Bitcoins per fully diluted share." Following this latest round of purchases, Capital B's Bitcoin holdings have increased to 3,139. The company, formerly known as The Blockchain Group, changed its name to Capital B in July 2025.
Continue to increase holdings after recent financing
This proposal comes shortly after Capital B completed multiple rounds of financing from institutional investors. Company disclosures show that it has raised approximately $325 million in total funding related to its treasury strategy.
Capital B completed a €15.2 million private placement in May, with participants including Blockstream CEO Adam Back and Paris-based asset management firm TOBAM.
Subsequently, the company used part of the raised funds to purchase 192 bitcoins, with a transaction amount of approximately €13 million. Another announcement on Monday disclosed that the company had purchased an additional 4 bitcoins, increasing its total holdings from 3,135 to 3,139 bitcoins.
Simultaneous changes in equity structure
As previously disclosed by the company, after the completion of the aforementioned private placement, Adam Back's shareholding in common stock will increase to 13.43%. Blockstream Capital Partners, for which Adam Back provides advisory services, is expected to hold 14.42%, and TOBAM's shareholding is expected to increase to 4.20%.
According to the company's statement, if the new authorization is approved, it will significantly enhance its ability to continue to raise funds and expand its Bitcoin reserves in the future. It also means that its treasury model will further focus on the path of "fundraising - buying coins - increasing exposure to Bitcoin per share".
Differentiation among similar companies
In contrast to Capital B's continued expansion, some Bitcoin treasury companies have recently begun to reduce their exposure or adjust their strategies.
French semiconductor company Sequans Communications announced last week that it has ended its digital asset treasury strategy and is refocusing on its IoT chip business. The company disclosed holding 658 bitcoins, worth approximately $48 million, and plans to gradually liquidate its remaining holdings.
On the other hand, Strategy disclosed on Monday that it sold 32 bitcoins to meet the allocation arrangements related to its preferred stock program. This is the first time the company has reported selling bitcoins since its tax-loss transaction in 2022.
Nakamoto, a Nasdaq-listed company, previously disclosed that it had adopted an actively managed Bitcoin derivatives strategy, hoping to hedge some of its reserves while generating revenue from market volatility. A filing with the company on March 30 also showed that it had sold 284 bitcoins, worth approximately $20 million at the time.
Additional information:The €5 billion mentioned in the company's proposal is the maximum authorized amount for the capital increase, not the amount already raised; the currently disclosed actual holdings are 3,139 Bitcoins.
