Capital B SA said on September 7, 2026 that it has acquired 376 BTC for €25.3 million and now holds 3,521 BTC as part of its Bitcoin Treasury Company strategy.
The official release notes that the latest coins were bought at a reported acquisition cost of €67,182 per BTC. The firm’s total Bitcoin holding now carries an aggregate acquisition value of €309.4 million, equal to an average unitary cost of €87,878 per coin. The release lists a total Bitcoin net asset value of €240,801,190—or approximately $279.67 million.
The company said execution of the purchase was handled by Swissquote Bank Europe SA, identified as a virtual asset service provider registered with Luxembourg’s CSSF, with custody supported through Taurus infrastructure.
Listed on Euronext Growth Paris under ticker ALCPB and ISIN FR0011053636, with a U.S. ticker of CPTLF, Capital B is currently ranking 25th in BitcoinTreasuries.NET’s Top 100 Public Bitcoin Treasury companies’ list.
Equity operations that funded the latest coins
The same statement confirms the final completion of two financing tracks. First, Capital B completed capital increases at €0.51 per share for €1.44 million under an “ATM”-type contract with TOBAM, through the issuance of 2,799,200 new ordinary shares. Second, it completed capital raises totaling €28.7 million through a private placement of shares without pre-emptive subscription rights.
That placement involved 36,219,070 shares with four share subscription warrants attached to each share, issued at €0.58 per ABSA and subscribed by global institutional investors, including Adam Back and TOBAM.
After those issuances, the company reported 382,506,040 ordinary shares outstanding. The ownership breakdown given in the release is 5.55% for executives, 18.77% for Blockstream Capital Partners, 17.64% for Adam Back, 3.16% for TOBAM, 1.11% for UTXO Management, and 53.77% for the public and other institutional holders. On a fully diluted basis used in the company’s performance tables, the figure shown is 477,977,121 shares.
Reported Bitcoin metrics and the limits attached to them
Alongside the purchase, Capital B reported a year-to-date “BTC Yield” of 2.17% and a quarter-to-date figure of 0.31%. It defined related measures as a year-to-date “BTC Gain” of 61.3 BTC and a “BTC € Gain” of €4.2 million, with quarter-to-date equivalents of 9.9 BTC and €0.7 million. In the accompanying tables, bitcoin per fully diluted share is shown at 736.6 sats.
The release is explicit about what those labels do not mean. It states that BTC Yield, BTC Gain and BTC € Gain are not operating performance measures, not financial or liquidity measures, and not the equivalent of yield or gain in a conventional sense. They do not capture debt or other liabilities, rely on assumptions around refinancing or conversions, and are not presented as indicators of the share price or of any direct claim on bitcoin by individual shareholders. The company adds that past figures are not a guide to future results and that the metrics are supplemental tools for assessing its bitcoin holdings.
The statement also points readers to risk factors in the 2025 annual financial report, notes that the company does not intend to pay dividends, and records that the equity operations were not offered by way of a prospectus. Distribution restrictions are described for certain jurisdictions, including limitations in the United States to qualified institutional buyers and accredited investors under available exemptions.
Unrealized loss on the Bitcoin treasury
Capital B’s latest treasury update leaves the company underwater on paper. The 3,521 BTC now on the group balance sheet were accumulated for €309.4 million, or €87,878 (approximately $102,058) per coin.
The difference is an unrealized loss of about €68.6 million, or approximately $80 million—roughly 22% below the reported cost basis. That figure is a mark-to-market snapshot, not a realised sale, and it sits alongside the company’s own caution that its “BTC Gain” labels are not conventional profit or a claim on cash.
The newest 376 coins do not reverse that picture. They were bought at €67,182 each, below the average book cost of the whole holding, which lowers the blended basis only modestly. Until the Bitcoin price used in the company’s net-asset-value calculation moves back above that average cost, the treasury remains a long-term reserve carried at a discount to what Capital B paid to build it.
At 07:45 AM UTC, BTC was trading near $79,243 (approximately €68,154)—as per CoinGecko data.
Capital B’s stock performance
Capital B’s shares (ALCPB) last changed hands near €0.51 on Euronext Growth Paris, after a session that left the stock about 2.4% to 2.7% lower. Delayed quotes put the previous close at €0.5246, with a recent day’s (September 4) range of roughly €0.507 to €0.549 and volume of 237,073 for the session.
The listing is also in the middle of a technical change: Capital B has scheduled a 1-for-10 reverse split effective 8 September 2026, with 7 September as the last planned session for the old shares. After the consolidation, the displayed euro price should rise by a factor of about ten while the number of shares falls by the same factor; the company’s economic value does not change solely because of the split.
The stock remains a small, volatile name, with a wide 52-week range and no dividend, and its day-to-day move often tracks both bitcoin and the dilution from the equity raises that funded the latest 376 BTC purchase.
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