The Smarter Web Company plans to cut its borrowings from Coinbase to about £19 million after raising £1.89 million from share sales.
The Bitcoin treasury and digital services business sold 2.71 million shares at around 70p each under a subscription agreement set up last December.
It will keep about 98.25% of the gross proceeds under the agreement's terms.
A further 41.2 million shares issued under the agreement are yet to be sold.
Some of the cash will reduce the amount owed under its strategic credit facility with Coinbase, the cryptocurrency exchange, from about £20.8 million.
The balance was previously stated at £20.5 million, with the increase reflecting movements in the dollar-sterling exchange rate.
The company has drawn on the facility to fund Bitcoin purchases between fundraisings.
Coinbase has now raised the facility's variable interest rate to 6.25% from 6%.
The loan is secured against the company's Bitcoin holdings and can be repaid early without extra charges.
The board said paying down the balance was advantageous and that it keeps its capital allocation priorities under constant review.
Warrants exercised
Separately, 750,000 warrants, which give holders the right to buy new shares at a fixed price, have been exercised this month at 2.5p each.
That raised £18,750 and leaves 31.68 million warrants outstanding at the same price.
Chief executive Andrew Webley and his spouse hold 25.78 million of them, with other directors and employees holding a further 1.45 million.
The company now has 375.59 million shares in issue.
