Capital B, a Paris-listed bitcoin treasury company, completed the purchase of 192 bitcoin for €13.0 million, increasing total holdings to 3,135 BTC. The acquisition was announced May 18, 2026 and funded through three capital raises totaling €17.15 million, including an at-the-market placement, a warrant issuance, and a private share placement with attached subscription warrants. The 192 BTC were bought at an average cost of €67,866 per bitcoin, bringing the aggregate acquisition value of the total stack to €283.6 million and an average cost basis of €90,451 per coin. The purchase was executed via Swissquote Bank Europe SA with custody handled by Taurus. Capital B tracks “BTC Yield” and reported year-to-date gains alongside quarterly figures. The private placement warrants have three tranches with five-year maturities and exercise prices set at 130% increments, with potential additional capital if exercised.
"Capital B, the Paris-listed Bitcoin Treasury Company formerly known as The Blockchain Group, has completed the purchase of 192 bitcoin for €13.0 million, bringing its total holdings to 3,135 BTC - one of the largest bitcoin reserves held by a European public company. The acquisition, announced May 18, 2026, was funded through three capital raises that together generated €17.15 million. The raises included a €0.85 million placement under an "at-the-market" (ATM) agreement with TOBAM, a €1.1 million warrant issuance subscribed by cypherpunk and Blockstream CEO Adam Back, and a €15.2 million private placement of shares with attached subscription warrants (ABSA) at €0.66 per unit, placed with a group of global institutional investors."
"The 192 BTC were purchased at an average cost of €67,866 per bitcoin, according to a note shared with Bitcoin Magazine. The company's total bitcoin stack now carries an aggregate acquisition value of €283.6 million, reflecting an average cost basis of €90,451 per coin. The acquisition was executed through Swissquote Bank Europe SA, a Luxembourg-registered virtual asset service provider, with custody handled via the Swiss firm Taurus."
"Capital B tracks a proprietary performance metric called "BTC Yield" - a measure of bitcoin accumulation per fully diluted share - to assess the efficiency of its treasury strategy. Year-to-date, the company has recorded a BTC Yield of 1.82%, a BTC Gain of 51.3 BTC, and a BTC Euro Gain of €3.5 million. Since the start of the second quarter, those figures stand at 1.09%, 31.4 BTC, and €2.1 million."
"The private placement carried a warrant structure with three tranches, each with a five-year maturity. Warrant 2026-03 carries an exercise price of €0.86, Warrant 2026-04 at €1.12, and Warrant 2026-05 at €1.46 - each set at 130% of the prior tranche's exercise price. If all warrants were exercised, the transaction would generate an additional €99.1 million in capital for"
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