The Smarter Web Company expanded its Bitcoin treasury by acquiring 11.89 BTC at an average price of £47,052 each. This brings their total holdings to 2,712 BTC, reinforcing their long-term commitment despite current market losses.
Stacking Bitcoin on a Loss
The company bought its Bitcoin at an average cost of about £82,886, which amounts to roughly $111,548 per coin. With Bitcoin trading around $63,000 during the latest purchase, their overall position sits at nearly double the current market value, indicating significant unrealized losses. Since the start of their accumulation, The Smarter Web Company has invested a gross sum of £233.5 million into Bitcoin, netting £224.8 million after selling 177.89 BTC in July 2026 to meet debt obligations.
use and Financing Drive the Strategy
To finance their Bitcoin purchases, the firm has drawn £18.5 million from a Coinbase credit facility, representing about 17% use at a 6% variable interest rate. Alongside this, they raised just over £1 million through share placements and exercised nearly 3 million warrants, increasing their total shares to 374.84 million. Instead of self-custody, they entrust Coinbase and Kraken as institutional custodians. This approach echoes MicroStrategy's famed leveraged Bitcoin bet but within a UK context.
The company's Bitcoin yield for Q2 2026 showed a -4.80% return, meaning that shareholders’ Bitcoin exposure per share decreased over the quarter.
This material is for informational purposes only and does not represent financial advice.
