Key Points:
- Capital B purchased 376 BTC for €25.3 million ($29.5 million), taking its corporate Bitcoin treasury to 3,521 BTC.
- The acquisition was funded through about €30.1 million ($35 million) in capital raises, including backing from Adam Back and TOBAM.
- Capital B has moved ahead of H100 Group in publicly traded Bitcoin holdings, while major treasury firms continue expanding their BTC exposure.
Capital B Expands Its Bitcoin Treasury
French Bitcoin treasury company Capital B has added 376 BTC for approximately €25.3 million ($29.5 million), marking its largest Bitcoin purchase in nearly a year.
The acquisition brings Capital B’s total treasury holdings to 3,521 BTC and moves the company to 25th place among publicly traded companies by Bitcoin holdings, according to BitcoinTreasuries.net.
Capital B paid an average of €67,182 per Bitcoin. Swissquote Bank Europe executed the transaction, while Taurus provides custody services for the company’s Bitcoin reserves.
The purchase followed approximately €30.1 million ($35 million) in capital raises, including a private placement supported by investors Adam Back and TOBAM.
Capital B has now spent a cumulative €309.4 million on its Bitcoin treasury, giving the holdings an average acquisition cost of €87,878 per BTC.
The company separately holds another 61 BTC for operational purposes. Those coins are excluded from its treasury reserve and Bitcoin performance metrics.
Capital B Moves Ahead of H100 Group
The latest acquisition also changes the ranking among European corporate Bitcoin holders.
Sweden-based H100 Group more than tripled its Bitcoin treasury in August after acquiring Norwegian companies holding 2,455 BTC. That transaction increased H100’s holdings to 3,506 BTC.
Capital B now sits 15 BTC ahead of H100 at 3,521 BTC, although both remain behind Germany’s Bitcoin Group SE, which holds 3,605 BTC.
Capital B’s latest purchase follows its previous major acquisition in September 2025, when the company bought 551 BTC for €54.7 million.
The differing strategies among public companies highlight the increasingly fragmented corporate response to Bitcoin exposure. While some firms are reducing or unwinding their holdings, others continue to treat Bitcoin as a long-term treasury asset.
Major Corporate Bitcoin Buyers Keep Accumulating
Capital B’s purchase comes as several large corporate Bitcoin holders continue adding to their reserves.
Japan-based Metaplanet acquired 2,823 BTC during the second quarter for approximately $222 million, bringing its holdings to 43,000 BTC. The company paid an average of about $78,850 per Bitcoin during the period, making it the third-largest publicly traded corporate Bitcoin holder behind Strategy and Twenty One Capital.
Strategy, the largest corporate Bitcoin holder globally, also resumed purchases in August following a two-month pause. The company acquired 4,603 BTC for approximately $370 million, taking its total holdings to 845,050 BTC, accumulated for a combined $63.3 billion.
At the same time, companies such as K Wave Media and Sequans Communications have moved toward unwinding their Bitcoin treasury strategies, underscoring the growing divergence in corporate approaches to cryptocurrency reserves.
Outlook
Capital B’s latest acquisition reinforces the continued expansion of Bitcoin treasury strategies among publicly traded companies, particularly in Europe. Its move ahead of H100 Group shows how quickly rankings can shift as companies deploy capital into BTC. However, the contrasting decisions to accumulate or unwind Bitcoin reserves suggest that corporate treasury adoption remains highly dependent on individual financing structures, risk tolerance and expectations for Bitcoin’s long-term value.
Comparison, examination, and analysis between investment houses
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