The Smarter Web Company PLC has announced a further Bitcoin acquisition as part of its ongoing treasury strategy, which is integrated into its long-term corporate plan focused on accumulating Bitcoin as a reserve asset.

The company purchased 27 Bitcoin at an average price of £56,799 per coin, totaling approximately £1.53 million. 

Following the transaction, its total holdings increased to 2,805 Bitcoin, acquired at an average price of £81,544 per Bitcoin, with a cumulative investment of £228.7 million.

The firm reported a quarter-to-date BTC yield of 13.98%, a metric used to measure the change in Bitcoin holdings relative to its fully diluted share count over a given period.

Alongside the purchase, the company disclosed that total borrowings under its credit facility with Coinbase now stand at £15 million, representing an approximate leverage ratio of 10.15%. 

The facility is secured against its Bitcoin holdings, carries a variable interest rate between 6.75% and 7.25%, and can be repaid at the company’s discretion.

In a separate update, the company confirmed the issuance of 310,000 ordinary shares under an existing subscription agreement. 

The placement generated gross proceeds of £117,900, equivalent to about £0.38 per share, with most of the proceeds received after settlement. 

A substantial number of shares under the agreement remain available for future issuance.

The Smarter Web Company continues to incorporate Bitcoin into its balance sheet strategy while operating its core business in web design, development, and online marketing.