The Smarter Web Company (LSE:SWC) shares were up 6.4% to 38.3675p after it bought 27 Bitcoin at an average price of £56,799, costing £1.53m, the company said.
The Smarter Web Company, a UK web design, development and online marketing group that has accepted Bitcoin payments since 2022, reports a total average purchase price of £81,544 per Bitcoin and a quarter-to-date BTC Yield of 13.98%.
Drawings under the company’s strategic credit facility with Coinbase now total £15m, equivalent to an approximate leverage ratio of 10.15%, with the loan secured against existing Bitcoin holdings, a variable interest rate of 6.75%–7.25% and repayment at the company’s discretion.
Separately, 310,000 shares have been placed under the Subscription Agreement for gross proceeds of £117,900 (approximately £0.38 per share), of which the company will receive approximately 98.25%, and 52.07m shares remain unplaced under the agreement.
SWC reiterated that its Bitcoin Treasury Policy is a core element of "The 10 Year Plan" and that BTC Yield is used as a KPI to assess accretion to shareholders.
