Capital B Secures $1.28 Million Investment from Blockstream CEO Adam Back

Capital B has successfully raised 1.1 million euros ($1.28 million) through a warrant issuance, with Blockstream CEO Adam Back subscribing to the offering. According to Cointelegraph, Back acquired 10 million subscription warrants at $0.13 each, granting him the right to purchase one new share of future company stock at an exercise price of $0.98. This price aligns with the company's market net asset value (mNAV) of 1.1 per share, as stated by Capital B. This investment further increases Back's stake in Capital B, where he is already a significant strategic investor. Currently, Back holds over 39.5 million shares, representing 9.97% of Plan B's shares on a fully diluted basis. Back is renowned for inventing Hashcash, the proof-of-work system referenced in the Bitcoin white paper. The capital raise occurs amidst a period where Bitcoin treasury companies are exploring various strategies to manage balance sheet risks during Bitcoin's downturn. While some companies focus on accumulation strategies, others are utilizing derivatives or asset sales. Capital B and the UK-based Connecting Excellence Group (XCE) were the only Bitcoin treasury firms to secure capital in Europe over the past month, with XCE raising $794,000 on April 23, also backed by Adam Back. Following the announcement of the capital raise, Capital B's stock price increased by over 6.5% on Monday, although it remains down more than 16% since the beginning of 2026, according to Yahoo! Finance data. The company plans to use the new funds to "accelerate" its Bitcoin treasury strategy, which shareholders viewed positively. Capital B is currently the 25th largest Bitcoin treasury company, holding 2,943 BTC, valued at approximately $234 million, based on Bitcointreasuries.net data. Other Bitcoin treasury companies are taking measures to mitigate balance sheet risks associated with Bitcoin's downturn. On April 24, Nasdaq-listed Bitcoin treasury company Nakamoto announced an actively managed Bitcoin derivatives program aimed at generating recurring income from volatility and hedging part of its corporate BTC holdings against downside exposure. Nakamoto, the 20th-largest Bitcoin treasury firm, disclosed selling part of its holdings earlier this year, with a sale of 284 Bitcoin (worth about $20 million at the time) in a March 30 filing with the US Securities and Exchange Commission. In February, Bitcoin treasury company Genius Group liquidated its entire treasury holdings of 84 BTC for approximately $5.7 million, using the proceeds to repay an $8.5 million debt obligation, as per an SEC filing.