Capital B Raises $17.8 Million to Buy More Bitcoin

Capital B, a France-based Bitcoin treasury company, has raised 15.2 million euros ($17.8 million) in a private placement and plans to use the proceeds to buy more Bitcoin.

The Block reported on May 11 that the company issued 23 million ABSA shares at 0.66 euro each, with four warrants attached to each share.

Capital B said it could raise an additional 99.1 million euros if all of the warrants are exercised.

It plans to use net proceeds of about 14.4 million euros ($17 million) to strengthen its Bitcoin treasury strategy. Combined with its existing operating funds, the company said that would allow it to buy about 182 additional BTC.

That would increase Capital B's total Bitcoin holdings to about 3,125 BTC.

Investors in the fundraising included early Bitcoin developer and Blockstream Chief Executive Officer Adam Back, along with French asset manager TOBAM.

After the deal closes, Back will own a 13.43% stake in Capital B. Blockstream Capital Partners, which he advises, will see its holding adjusted to 14.42% from 15.63%.

The private placement is set to close as early as May 13.

Capital B previously operated under the name The Blockchain Group. It rebranded in July 2025 after shifting its focus to a Bitcoin treasury strategy.