The Smarter Web Company (LSE:SWC) bought 25 Bitcoin, taking its treasury to 2,830 BTC with a total book value of £230.23m under its "10 Year Plan".
The Smarter Web Company is a web design, development and online marketing services group that has adopted an ongoing treasury policy of acquiring Bitcoin and accepting Bitcoin payments since 2022. The latest 25 Bitcoin were acquired at an average price of £59,995 per coin for a tranche cost of £1.5m, leaving a total average purchase price across the treasury of £81,354 per Bitcoin.
The company reported a quarter-to-date BTC Yield of 13.86% on its treasury, a KPI that measures percentage change in the ratio of total Bitcoin holdings to fully diluted shares over the period.
Drawings under its Coinbase strategic credit facility now total £16m, representing an approximate leverage ratio of 10.37%.
The loan is secured against the company's Bitcoin, carries a variable interest rate of between 6.75% and 7.25%, and is repayable without additional charges at the company's discretion.
The company reiterated that it pursues organic growth and an acquisition strategy alongside its Bitcoin Treasury Policy as outlined in the 10 Year Plan announced on 28 April.
