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LONDON - The Smarter Web Company PLC (AQUIS:SWC) announced Friday it has purchased an additional 275 bitcoin at an average price of £79,563 per bitcoin, representing a total investment of approximately £21.9 million.
According to the company’s press release statement, this acquisition brings its total bitcoin holdings to 1,275 bitcoin with an average purchase price of £78,516 per bitcoin, equivalent to about £100.1 million in total purchases.
The London-listed technology company, which provides web design, development and online marketing services, indicated the purchase is part of its "10 Year Plan" that includes an ongoing treasury policy of acquiring bitcoin.
The company reported it has approximately £31 million in net cash available for potential future bitcoin purchases.
The Smarter Web Company began accepting bitcoin as payment in 2023 and has since integrated cryptocurrency into its corporate strategy. The firm stated it "believes that Bitcoin forms a core part of the future of the global financial system."
The company disclosed what it terms as "BTC Yield" metrics, reporting a year-to-date figure of 31,263% and a 30-day figure of 497% on its treasury, though it did not provide details on the calculation methodology.
The Smarter Web Company trades on multiple exchanges including AQUIS Exchange in London, OTCQB in the United States, and the Frankfurt Stock Exchange.
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