French Bitcoin treasury company Capital B has acquired 376 BTC for approximately €25.3 million ($29.4 million), completing its largest single Bitcoin purchase since September 2025. The transaction lifts the company’s total holdings to 3,521 BTC, extending an accumulation strategy funded primarily through equity capital raises.
According to Capital B’s official September 7 press release, the latest Bitcoin was purchased at an average price of roughly €67,300 per BTC. The acquisition was financed from recent fundraising activity, including a €28.7 million private placement, giving the company fresh capital to expand its treasury.
Adam Back Increases Capital B Stake
The private placement included additional participation from Blockstream CEO and cryptographer Adam Back, who invested another €7.6 million. Back’s latest investment increased his ownership position in Capital B to 17.64%, strengthening his exposure to the publicly traded Bitcoin treasury company.
Before the transaction, Capital B held 3,145 BTC acquired at a historical average price of approximately €90,352 per coin. The latest purchase was completed substantially below that earlier average cost basis, adding Bitcoin at roughly €67,300 per coin while increasing the absolute size of the treasury.
Capital B uses equity issuance as a principal mechanism for financing Bitcoin accumulation, effectively linking its capital-markets activity with the expansion of its BTC reserves. The company reported a year-to-date BTC Yield of 2.17%, a metric it uses to measure changes in Bitcoin holdings per fully diluted share rather than the investment return generated by Bitcoin itself.
Capital B Bitcoin Holdings Reach 3,521 BTC
The company’s Bitcoin is held with Swissquote Bank Europe, which provides regulated custody infrastructure. Capital B’s treasury strategy therefore combines recurring BTC acquisitions with institutional custody, rather than maintaining its corporate holdings through self-custodied wallets.
Formerly known as The Blockchain Group, Capital B began pursuing its dedicated Bitcoin treasury strategy in November 2024. The company has since transformed Bitcoin accumulation into a central component of its capital allocation model, repeatedly raising funds to increase the amount of BTC held on its balance sheet.
With 3,521 BTC following the latest purchase, Capital B remains close to Bitcoin Group SE, which is reported to hold 3,605 BTC. The difference between the two European corporate treasuries now stands at just 84 BTC, underscoring how rapidly Capital B has expanded its holdings through successive financing rounds.
The latest transaction reinforces the company’s commitment to continuing that strategy rather than representing a one-off allocation. Capital B is using access to equity capital to increase Bitcoin exposure while tracking whether each financing round improves BTC ownership on a per-share basis, making future fundraising and acquisitions central to the execution of its treasury model.
