The Smarter Web Company (AQSE:SWC), an LSE-listed digital assets firm, has purchased an additional 9 Bitcoin as part of its long-term accumulation strategy, pushing its total holdings to 2,878 Bitcoin.
The purchase was completed at an average price of £54,771 per Bitcoin, equivalent to £492,942 in total outlay.
The company's share price rose 3% to 30.26p following the announcement.
SWC's cumulative Bitcoin purchases total £232.97 million at an average cost of £80,950 per coin, representing a significant treasury repositioning that began under its "10 Year Plan" acquisition programme. The current market capitalisation of the business is less than half that figure.
The company has recorded a quarter-to-date Bitcoin yield of 15.79% on its treasury holdings, reflecting recent strength in the digital asset's market value.
To finance ongoing purchases, SWC has drawn down £18.5 million under a secured credit facility with Coinbase, the cryptocurrency exchange platform.
The facility is secured against the company's existing Bitcoin holdings and carries a variable interest rate between 6.75% and 7.25%.
The leverage ratio currently stands at approximately 13.25%, indicating the company is using borrowed capital equivalent to 13.25% of its total Bitcoin holdings value to fund additional purchases.
Repayment of the Coinbase facility carries no early redemption penalties, allowing the company discretion over repayment timing.