Sundae Bar Plc (AIM:SBAR), the technology group behind a marketplace for agentic AI, has begun using surplus cash to buy Bitcoin as part of a new treasury strategy, following the completion of its latest fundraising.
The AIM-listed company said on Friday that all extra proceeds from its WRAP retail offer have been allocated to the acquisition of Bitcoin, in line with a policy adopted in late June.
The approach is designed to preserve capital by diversifying the company’s treasury into digital assets, without distracting from its main business of running a platform that connects AI developers with companies.
Jill Kenney, chief executive, said: “Our Bitcoin treasury management policy represents a measured approach to capital preservation and growth.
"Having secured operational funding through AIM admission fundraising, we are pleased to deploy these surplus funds in accordance with our policy."
Sundae Bar has also reported an uptick in its TAO Strategies partnership, a performance-based marketing scheme aimed at expanding its AI marketplace.
The company said its daily subnet emissions, a reference to rewards distributed in the TAO digital token, had increased from τ9 TAO to τ15 TAO per day, now valued at around $5,490.
The price of the TAO token, used within the Bittensor decentralised network, has risen to approximately $366, according to the company.
Sundae Bar recently launched a TAO awards programme, which has attracted leading AI agent developers to the platform. Kenney said this initiative demonstrated Sundae Bar’s “forward-thinking approach to digital asset strategy”.
Management emphasised that these moves “complement, but do not alter” Sundae Bar’s core operations as a marketplace for artificial intelligence, and that the company continues to see strong opportunities for growth.