London-listed firm continues debt-financed Bitcoin accumulation strategy
The Smarter Web Company disclosed on May 26, 2026 that it acquired 10 Bitcoin using debt financing from Coinbase, bringing its total holdings to 2,869 BTC. The purchase price averaged £55,786 per coin, or $74,904 in USD equivalent, for a total outlay of £557,865.
The acquisition marks the latest step in the London-listed company’s debt-supported treasury strategy. The Smarter Web Company has now invested a cumulative £232.48 million in Bitcoin, with an average acquisition cost of £81,032 per BTC across all holdings (approximately $109,000 USD). The company’s quarter-to-date Bitcoin yield stands at 15.43% relative to fully diluted share count.
The Coinbase credit facility, which is secured against the company’s existing BTC holdings, has drawn £18 million to date. The facility carries a variable interest rate between 6.75% and 7.25%, and can be repaid without penalty. The company maintains an approximate leverage ratio of 12.19% against the facility.
The Smarter Web Company provides web design, development, and online marketing services. The company began accepting Bitcoin payments in 2022, establishing early infrastructure for its later pivot toward Bitcoin-centric treasury operations.
Broader corporate Bitcoin strategy context
The company’s debt-financed accumulation approach aligns with strategies employed by other publicly traded Bitcoin-focused firms. Strategy, a major Bitcoin holder, recently shifted focus from direct Bitcoin purchases to repurchasing convertible debt while continuing to grow its BTC position through equity issuance. Strategy has repurchased $1.5 billion in convertible debt at an 8% discount and holds 843,738 BTC in total.
Strive, another publicly traded firm with a BTC-centric treasury model, has absorbed 453 Bitcoin through its SATA preferred stock mechanism, demonstrating alternative structural approaches to corporate Bitcoin accumulation.
The Smarter Web Company’s use of secured debt financing distinguishes it from equity-only accumulation strategies. By leveraging existing holdings against credit facilities, the company reduces dilution while maintaining upside exposure to Bitcoin price appreciation. The penalty-free repayment structure provides flexibility to exit the facility if market conditions shift.
Treasury metrics and measurement
The company measures performance using quarter-to-date Bitcoin yield relative to fully diluted share count. This metric differs from simple price appreciation tracking, incorporating the impact of share dilution from equity issuance used to fund acquisitions.
The average acquisition cost of £81,032 per BTC reflects purchases across multiple price levels. The latest purchase at £55,786 per coin represents a lower entry point than the cumulative average, suggesting recent market conditions have favored continued accumulation.
According to Bitcoin Magazine, the Smarter Web Company’s disclosure on May 26, 2026 outlined both the new acquisition and the facility terms. The source did not specify the exact date the 10 BTC were acquired, only the date of public disclosure.
Facility structure and constraints
The Coinbase credit facility operates as a collateralized loan against the company’s Bitcoin holdings. The variable rate structure exposes the company to interest cost increases if rates rise, though the current range of 6.75% to 7.25% remains modest relative to historical Bitcoin appreciation rates.
The absence of prepayment penalties means the company can repay the facility at any time without additional cost, providing an exit mechanism if leverage becomes undesirable or if capital needs shift. The source did not clarify whether the facility has a maturity date or maximum draw limit.
