Norwegian company K33 raises 60 million Swedish kronor (SEK) for its Bitcoin reserves
Norwegian digital asset firm K33 bolsters its Bitcoin holdings, raising $5.6 million
The Oslo-headquartered, Nasdaq First North-listed K33 has announced it has raised 60 million Swedish krona, approximately $5.6 million, to expand its Bitcoin treasury.
To finance the acquisition, the company issued 150.56 million new shares and 301.12 million free warrants, valued at 45 million SEK. Insiders and aligned investors, including Klein Group and Modiola AS, contributed to the capital raise.
The free warrants, zero-interest instruments, can be later converted into equity and allow K33 to raise an additional 75 million SEK, around $7.1 million, if converted before March 2026.
K33 CEO Torbjørn Bull Jenssen asserts the move aligns with the company's broader strategic vision and reaffirms its commitment to Bitcoin as both a financial asset and institutional offering. Jenssen anticipates that the acquisition will solidify a strong balance sheet backed by Bitcoin, boosting K33's role as a leading cryptocurrency broker.
With this strategic move, K33 believes Bitcoin will become a crucial component of the global financial system. Recognizing the role of Bitcoin as a driver for growth and innovation, the firm intends to unlock new opportunities in product expansion, improve trading margins, and attract institutional partners to solidify its footing in European digital wealth management.
In a parallel development, Japanese firm Metaplanet issued $50 million in bonds to augment its Bitcoin holdings on the same day as K33's announcement. The growing influx of companies investing in Bitcoin highlights the potential of the digital asset as a strategic enabler and long-term investment.
- K33, having raised $5.6 million by expanding its Bitcoin treasury, is stepping into the realm of crypto technology, reinforcing its position as a leading broker in the cryptocurrency market.
- As a result of the capital raise, K33's Bitcoin holdings have increased significantly, adding another layer to its strategic vision in the digital finance landscape.
- With the acquisition, K33 aims to leverage Bitcoin as a token for growth and innovation, intending to explore new opportunities in product expansion and attracting institutional partners within the European digital wealth management sector.
- Parallel to K33's investments, Metaplanet, a Japanese firm, also issued $50 million in bonds to bolster its Bitcoin holdings, underscoring the growing trend of companies viewing Bitcoin as a strategic long-term investment and enabler in the world of finance and technology.
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