Capital B Buys 376 BTC for $29M, Lifts Holdings to 3,521 BTC

French corporate Bitcoin treasury firm Capital B has expanded its holdings with a new purchase of 376 BTC, acquiring the coins for €25.3 million (about $29.5 million). After the deal, Capital B’s total Bitcoin treasury rises to 3,521 BTC, according to a company announcement published Monday.

The acquisition follows Capital B’s capital raises of roughly €30.1 million (about $35 million), which included a private placement backed by investors Adam Back and TOBAM. The company says Swissquote Bank Europe executed the purchase, while Taurus provided custody for the assets.

Key takeaways

• Capital B bought 376 BTC for €25.3 million, bringing total holdings to 3,521 BTC.
• The purchase was funded after €30.1 million in capital raises, including a private placement backed by Adam Back and TOBAM.
• Capital B paid an average of €67,182 per BTC for the latest tranche; its overall average cost across the treasury now sits at €87,878.
• The latest buy is Capital B’s largest since September 2025, when it acquired 551 BTC for €54.7 million.
• Capital B now ranks 25th among publicly traded companies by Bitcoin holdings, based on BitcoinTreasuries.net.

Details of Capital B’s latest Bitcoin purchase

Capital B’s latest acquisition consists of 376 Bitcoin purchased at an average price of €67,182 per BTC. In the announcement, the company links the buy to its financing activity completed ahead of the trade.

Execution and custody were handled by third parties: Swissquote Bank Europe carried out the purchase, while Taurus is designated as the custodian. Capital B also distinguishes operational holdings from its treasury reserve, stating that it holds an additional 61 BTC for operational purposes that are kept separate from the company’s Bitcoin treasury and excluded from its Bitcoin-related performance metrics.

Across its Bitcoin treasury program, Capital B reports spending a total of €309.4 million at an average cost basis of €87,878 per BTC. Based on that accumulated position, the firm moved to 25th place among publicly traded companies tracked by BitcoinTreasuries.net.

Why the financing and custody structure matters

Corporate Bitcoin treasury strategies often live or die on execution quality, custody arrangements, and the consistency of funding. In this case, Capital B’s announcement ties the purchase directly to capital raised—roughly €30.1 million—rather than leaving investors to infer the financing source after the fact.

For market participants, the specific counterparties named for execution (Swissquote Bank Europe) and custody (Taurus) are also notable because treasury programs depend on minimizing operational risk. Even when the market impact is not the main driver, reliable custody and clear segregation between operational BTC and treasury BTC can matter for how companies report performance and how investors evaluate treasury discipline.

Capital B’s position in the wider corporate Bitcoin race

Capital B’s purchase adds to a broader pattern seen among corporate Bitcoin holders: while some companies have moved to unwind holdings, others continue adding. The announcement places Capital B among the persistent accumulators—particularly relevant as Bitcoin treasury rankings can shift quickly with even mid-sized acquisitions.

Japan-based Metaplanet, for example, reportedly acquired 2,823 BTC during the second quarter for about $222 million, bringing its total to 43,000 BTC. BitcoinTreasuries.net data cited in the article places Metaplanet third among publicly traded corporate Bitcoin holders, behind Strategy and Twenty One Capital.

Meanwhile, Sweden-based H100 Group reportedly expanded its treasury in August after an all-share deal involving Norwegian companies holding 2,455 BTC. That transaction reportedly lifted H100’s holdings to 3,506 BTC, positioning it as Europe’s second-largest publicly traded corporate holder at the time. Capital B’s latest buy leaves it 15 BTC ahead of H100, while both remain behind Germany’s Bitcoin Group SE, which holds 3,605 BTC, according to the cited ranking data.

At the top end of the corporate list, Strategy—described as the world’s largest corporate Bitcoin holder—resumed buying in August after a pause of two months. The article states Strategy purchased 4,603 BTC for $370 million, bringing total holdings to 845,050 BTC at an aggregated purchase value of $63.3 billion, again referencing BitcoinTreasuries.net for rank context.

What to watch after the September 2025 high-water mark

Capital B’s newest tranche is its largest acquisition since September 2025, when it bought 551 BTC for €54.7 million. That matters because it suggests the firm has not been buying at a comparable scale for most of the interim period, even if smaller additions or operational balance changes may have occurred.

Going forward, investors will likely focus on whether Capital B maintains a steady cadence of treasury purchases—especially given that the latest deal appears tied to fresh capital raising. The key uncertainty is how quickly (and at what average prices) future acquisitions will follow, and whether treasury growth continues to translate into meaningful movement within the publicly traded rankings tracked by BitcoinTreasuries.net.

For now, Capital B’s updated holdings and cost basis provide a clear snapshot of where the company stands in the competitive landscape of corporate Bitcoin accumulation—and its next reported treasury purchase will determine whether it can keep closing the gap to Europe’s largest peers.