Smarter Web Company Sells 178 Bitcoin to Repay $11.7 Million Debt
Summary
- Smarter Web Company said it sold about 178 Bitcoin to repay debt.
- The sale was used to repay about $11.7 million, at an average price of $65,762 per Bitcoin.
- The company disposed of all 178 Bitcoin bought last year, reducing its Bitcoin holdings to about 2,700.
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Smarter Web Company, a UK digital-asset treasury firm, has sold Bitcoin to repay debt.
According to Bitcoin Treasuries on July 23, the company recently repaid about $11.7 million to asset manager TOBAM in connection with a convertible financing instrument called Smarter Convert.
It raised the funds by selling about 178 Bitcoin from its holdings. The average sale price was $65,762 per Bitcoin.
Smarter Convert is a convertible loan product that TOBAM subscribed to in cash in August 2025. Under the agreement, Smarter Web Company was required to use at least 98% of the proceeds to buy Bitcoin. The company used the full amount at the time to purchase about 178 Bitcoin.
The repayment effectively meant selling all of the Bitcoin acquired last year. After the sale, Smarter Web Company's Bitcoin holdings fell to about 2,700.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul