Europe’s first dedicated Bitcoin treasury company just added another small but deliberate block to its growing stack. Capital B SA, based in Puteaux, France, announced on August 17, 2026, that it acquired 5 Bitcoin for €0.28 million, bringing its total holdings to 3,145 BTC.
The purchase price works out to roughly €55,882 per Bitcoin, though the company’s overall cost basis across its entire treasury sits at €90,352 per BTC, for a cumulative spend of €284.2 million.
How they’re funding the stack
Capital B didn’t tap a corporate cash pile for this one. The acquisition was financed through an at-the-market capital raise of €0.30 million, achieved by issuing 647,110 new shares priced at an average of €0.47 each.
Alongside the purchase, Capital B confirmed the successful conversion of all 14,195,352 OCA B-01 convertible instruments held by Blockstream into ordinary shares.
Year-to-date, the company reports a BTC Yield of 2.14%, a BTC Gain of 60.3 Bitcoin, and a BTC Euro Gain of €3.3 million. The BTC Yield metric, borrowed from the MicroStrategy reporting framework, measures how much the company’s Bitcoin holdings per share have grown, stripping out the dilutive effect of new equity issuances.
A rebranded company with a very specific ambition
Capital B launched its Bitcoin treasury strategy on November 5, 2024, under its former name, The Blockchain Group. Since the strategy launched, the firm has grown its holdings from around 2,000 BTC in mid-2025 to the current 3,145 BTC.
The stated goal is to accumulate 1% of Bitcoin’s total supply by 2033. Bitcoin’s fixed supply caps out at 21 million coins, so 1% means roughly 210,000 BTC. Capital B currently holds about 1.5% of that target.
The firm’s operating business hasn’t been abandoned in the process. Capital B runs subsidiaries focused on data intelligence, artificial intelligence, and decentralized technology consulting.
What this signals for European institutional adoption
Capital B has now completed multiple rounds of equity issuances specifically to fund Bitcoin purchases. Capital B positioning itself as Europe’s first dedicated Bitcoin Treasury Company is a flag planted in contested territory.
Capital B’s use of Swissquote Bank Europe SA and Taurus technology for custody is the kind of institutional-grade arrangement that operates under MiCA regulatory guidelines. The conversion of the OCA B-01 convertibles means the cap table is cleaner, and future equity raises for Bitcoin purchases will face less structural complexity.