The Smarter Web Company (LSE:SWC) announced it has purchased nine additional Bitcoins, spending £492,942, as part of its "10 Year Plan" treasury policy.
The company reported a Quarter-to-Date BTC Yield of 15.79% on its treasury following the acquisition.
Following today's purchase total drawings under the Coinbase Strategic Credit Facility stand at £18.5m, representing an approximate leverage ratio of 13.25%. The loan is secured against the company's existing Bitcoin holdings, carries a variable interest rate of between 6.75% and 7.25% and is repayable at the company's discretion without additional charges.
The company, which provides web design, web development and online marketing services, has accepted Bitcoin payments since 2022 as part of its treasury strategy. And, it intends to continue to provide investors with updates on any material drawdowns or repayments under the Bitcoin facility in the future.
