Capital B Secures €21M From Adam Back and TOBAM to Expand BTC Stash

The Euronext Growth-listed firm Capital B, which calls itself Europe's first bitcoin treasury company, secured €21 million ($24 million) through a private placement supported by Blockstream's Adam Back and asset manager TOBAM. The company says those funds could buy 270 additional bitcoin, lifting its total holdings to approximately 3,415 BTC.

On Friday, Capital B reported that 36,219,070 shares changed hands at €0.58 apiece in the transaction, a 6.45% discount from Wednesday's closing price.

After fees and transaction costs, the company expects net proceeds of approximately €19.9 million.

French company Capital B announced a €21.0 million capital raise to “accelerate its Bitcoin Treasury Company strategy”.

Bitcoin Treasuries ranks Capital B as the world's 27th-largest publicly traded bitcoin treasury, with 3,145 BTC in total. At the current bitcoin price of $77,960, that stash is worth $245 million.

Capital B, self-described as Europe's first bitcoin treasury, amassed much of its hoard through capital raises in the first half of 2026.

The company bought 192 BTC for €13 million in May, following the completion of three capital raises.

The capital raise by Capital B comes as other treasuries look to raise funds and accelerate their buying. This week, Genius Group, an NYSE-listed AI-powered education company, said it was targeting parallel AI and bitcoin treasuries with a combined value of $1.6 billion, after selling all its bitcoin reserves to repay $8.5 million in debt.

Bitcoin treasury companies have struggled since 2025, when the price of the top cryptocurrency slumped. Several firms in the sector have been forced to sell off their holdings, among them Strategy, the largest corporate bitcoin holder and a Nasdaq-listed company.