The Smarter Web Company (LSE:SWC) bought 44 Bitcoin at an average price of £57,081 per coin for a total of £2.51m, increasing its total Bitcoin holdings to 2,750 coins and its cumulative Bitcoin spend to £225.59m.
The Smarter Web Company, which provides web design, development and online marketing services, said the purchase was made under "The 10 Year Plan" as part of an ongoing Bitcoin Treasury Policy and reported a quarter-to-date BTC Yield of 11.84%.
The Board has amended the Treasury Policy to permit the use of its Strategic Credit Facility with Coinbase Credit, to fund additional Bitcoin purchases over time, and previous drawings of £9.5m have risen to £12m, implying an approximate leverage ratio of 8.1% up from around 6.4%.
The announcement said the Coinbase loan remains 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, with the Board citing a desire to enhance capital efficiency.
