Capital B, the Euronext Growth Paris-listed company, acquired five additional bitcoin on August 17, 2026, for €0.28 million. The transaction raised its strategic bitcoin treasury to 3,145 BTC. The average price paid for the latest coins stood at approximately €55,882 each.

The company’s cumulative acquisition cost for the full 3,145 BTC now totals €284.2 million, or an average of €90,352 per coin. A further 61 BTC held for operational purposes remain separate from the strategic reserve and are excluded from performance calculations.

Share Issuance and Bond Conversion

Alongside the bitcoin purchase, Capital B completed two capital-market transactions. Through its at-the-market agreement with TOBAM, the firm issued 647,110 ordinary shares at an average price of €0.47 between late July and early August, raising roughly €301,460. That price represented a premium to the stock’s recent closing level.

In parallel, Blockstream Capital Partners converted its entire remaining holding of OCA B-01 convertible bonds—14,195,352 instruments—into 28,687,362 new ordinary shares at a conversion price of approximately €0.495. No OCA B-01 bonds remain outstanding. After the conversion, Blockstream Capital Partners holds about 21.74% of Capital B’s ordinary shares and 35.63% on a fully diluted basis.

Treasury Performance Metrics

Capital B reported a year-to-date BTC Yield of 2.14%. The metric, which tracks bitcoin held per fully diluted share rather than traditional investment returns, corresponds to a gain of 60.3 BTC valued at €3.3 million. Quarter-to-date BTC Yield reached 0.28%, equating to 8.8 BTC or €0.5 million. Bitcoin per fully diluted share stood at 736.4 satoshis.

The firm calculated the net asset value of its strategic reserve at €170.9 million using the prior trading day’s bitcoin closing price. That figure sits roughly €113.3 million below the historical acquisition cost.

Ongoing Accumulation Strategy

The latest purchase marks Capital B’s second bitcoin acquisition within two weeks. On August 3 the company bought one bitcoin for €0.06 million, bringing holdings at that time to 3,140 BTC. Capital B adopted its bitcoin treasury approach in November 2024 and has steadily increased its position since then. Earlier in 2026 it raised €2.8 million through convertible bond and share subscriptions in March and secured $17.8 million in financing in May.

Management has stated a long-term objective of accumulating 210,000 BTC—equivalent to 1% of the total bitcoin supply—by 2033. Shareholders previously authorized substantial additional financing capacity, including up to €5 billion in capital increases and €100 billion in credit instruments, to support further expansion of bitcoin holdings per fully diluted share.

The company’s incremental purchasing pattern continues even as the market value of its existing reserve remains below cost, illustrating a focus on long-term accumulation rather than short-term price movements.