The Smarter Web Company tops up Bitcoin position, shares gain

The Smarter Web Company (AQSE:SWC) has added another 27 Bitcoin to its treasury, taking total holdings to 2,805 Bitcoin as it continues its “10 Year Plan” strategy of acquiring the cryptocurrency.

The latest purchase cost £1.53 million, with the company paying an average of £56,799 per Bitcoin. Across its total holdings, Smarter Web said it has now spent £228.7 million at an average purchase price of £81,544 per Bitcoin.

Following the purchase, total drawings under its Coinbase Strategic Credit Facility stand at £15.0 million, representing an approximate leverage ratio of 10.15%.

The company said the facility terms remain unchanged, with the loan secured against existing Bitcoin holdings, carrying a variable interest rate of 6.75% to 7.25% and repayable without additional charges at its discretion.

In London, the share gained 8.2% on Tuesday, changing hands at 39.01p.