According to CriptoNoticias, the Spanish coffee chain Vanadi has encountered difficulties after transitioning to a Bitcoin treasury model. The company reported a $7.8 million loss in 2025 and holds 213 BTC, of which 61% (approximately 130.18 BTC) are locked as collateral with Bit2Me. To sustain operations, Vanadi issued 98.1 million convertible bonds at a discount of 5% below market price, causing its stock price to plummet 74% this year. The company faces a €1.4 million payment shortfall and needs to raise €65 million over the coming months.
Spanish coffee chain Vanadi faces financial difficulties following a shift in its Bitcoin treasury model.
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Summary
The Spanish coffee chain Vanadi is facing financial difficulties after transitioning to a Bitcoin treasury model. The company reported a $7.8 million loss in 2025 and holds 213 BTC, with 61% (approximately 130.18 BTC) locked with Bit2Me. To remain solvent, Vanadi issued 98.1 million convertible bonds at a 5% discount, causing its stock to drop 74% year-to-date. The company faces a €1.4 million payment shortfall and must raise €65 million soon. With Bitcoin’s price fluctuating today, alternative cryptocurrencies may offer potential funding solutions.
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