The Smarter Web Company purchased 35 additional Bitcoin for approximately £2.01 million, increasing its total holdings to 2,747 Bitcoin.

The company acquired the Bitcoin at an average price of £57,494 per coin, according to a September 2nd regulatory announcement. 

The purchase was made as part of the company’s existing Bitcoin treasury strategy under its “10 Year Plan.”

The Smarter Web Company reported gross Bitcoin purchases of approximately £235.5 million and gross Bitcoin sales of £8.75 million. 

Net Bitcoin purchases totaled approximately £226.8 million, with a net average purchase price of £82,562 per Bitcoin.

The company also reported a quarter-to-date BTC Yield of -3.63%. It defines BTC Yield as the percentage change in the ratio of total Bitcoin holdings to fully diluted shares outstanding over a given period.

Following the latest purchase, total borrowings under the company’s Coinbase strategic credit facility stood at £20.5 million, representing an approximate leverage ratio of 14.8%.

The facility is secured against the company’s Bitcoin holdings and carries a variable interest rate of 6%. 

According to the company, the loan can be repaid without additional charges at its discretion.

The Smarter Web Company provides web design, development and online marketing services and has accepted Bitcoin as a form of payment since 2022. 

Its corporate strategy also includes acquisitions and the continued use of Bitcoin as part of its treasury reserves.