B HODL (AQSE:HODL) announced it has purchased 1 Bitcoin at an average price of £57,802 (US$78,081) as part of its ongoing treasury strategy to build a long-term strategic reserve that also powers its Lightning Network operations.
The company said the purchase was funded from proceeds of its At-The-Market (ATM) programme and its Capital Redeployment Programme, and that B HODL is the first UK-listed company founded for Bitcoin accumulation and revenue generation.
Following the purchase B HODL holds 166.487 BTC with an aggregate average purchase price of £81,817 per Bitcoin (US$110,453), an aggregate cost basis of £13.62m.
The company says the disciplined acquisition increases Bitcoin per share and enhances balance sheet productivity and that the Board intends to continue utilising both programmes opportunistically where market conditions allow for accretive Bitcoin acquisition.
