The Smarter Web Company increased its Bitcoin holdings to 2,878 Bitcoin after purchasing an additional nine Bitcoin, according to a regulatory announcement released on May 29th.

The company stated that the purchase was completed at an average price of approximately £54,771 per Bitcoin, representing a total transaction value of £492,942.

According to the filing, The Smarter Web Company’s aggregate Bitcoin holdings were acquired for approximately £232.97 million at an average purchase price of £80,950 per Bitcoin.

The company also reported a quarter-to-date BTC Yield of 15.79%. The filing defines BTC Yield as a key performance indicator measuring the percentage change in the ratio of total Bitcoin holdings to fully diluted shares outstanding over a given period.

Following the purchase, total borrowings under the company’s Coinbase Strategic Credit Facility increased to £18.5 million, representing an approximate leverage ratio of 13.25%, according to the announcement.

According to the filing, the terms of the Coinbase facility remain unchanged. The loan is secured against the company’s existing Bitcoin holdings, carries a variable interest rate between 6.75% and 7.25%, and may be repaid at the company’s discretion without additional charges.

“The Smarter Web Company announces the purchase of additional Bitcoin as part of ‘The 10 Year Plan’ which includes an ongoing treasury policy of acquiring Bitcoin,” the company stated in the filing.

The company has accepted Bitcoin as a form of payment since 2022 and said its Bitcoin treasury policy forms part of its broader corporate strategy.