Smarter Web Company has acquired 83 Bitcoin for £5.2 million, increasing its holdings to 2,830 BTC. Concurrently, the Singapore-based Bitcoin mining company BitFuFu announced that its treasury had 1,388 BTC as of the end of September 2026, marking an increase of 15 BTC from the previous month.
Interestingly, both firms appear to adopt unique routes to build their Bitcoin treasuries. In particular, SmarterWeb buys Bitcoin, while BitFuFu earns the cryptocurrency through mining. Consequently, the latest reports on the two companies’ Bitcoin positions provide fresh insights into how listed firms buy or make profits from the world’s largest digital asset.
RNS Announcement: Bitcoin Purchase
Please read the RNS on our website (link in comments).
LSE: #SWC #MORE | OTCQB: $TSWCF | FRA: $3M8 https://t.co/kc4p0VZEOH
— The Smarter Web Company (@smarterwebuk) October 15, 2026
Smarter Web Company Purchases 83 Bitcoin On October 15, 2026
According to the company’s report, it acquired the cryptocurrency at an average price of £62,676 per Bitcoin. The purchase comes as the company’s new preferred shares, MORE, started trading on the London Stock Exchange on October 14th.
Source: lse.co.uk
Following the purchase, the company’s Bitcoin treasury was valued at approximately £177 million based on the information provided. In particular, Smarter Web’s average price paid for all its Bitcoin purchases was £81,979 per Bitcoin. Notably, the company’s net spend on the cryptocurrency, after adjusting for sales, was approximately £232 million.
In addition, the company reportedly used some of the proceeds from its preferred share offering to repay some of its borrowings under a secured credit facility against Bitcoin. As a result, the company’s outstanding loan balance was reduced from approximately £17 million to £16 million. Nonetheless, the company has yet to disclose how it partly funded the most recent purchase worth more than the £4 million allocated for the Bitcoin purchase from its preferred share offering.
Smarter Web raised £10 million from its MORE preferred share offering, which is below the £15 million minimum target fundraising announcement in its prospectus. The company’s shares have a variable dividend, which is initially set at 12% per annum on the reference value of £100 per share. The dividend is cumulative subject to the terms and conditions of the issue.
Meanwhile, BitFuFu’s Bitcoin holdings increased to 1,388 BTC by September 30. Interestingly, its production volume for the month stood at 167 BTC, down from 174 BTC in August. Nevertheless, the firm’s daily Bitcoin production rate remained stable at around 5.6 BTC.
The company generates revenues from two sources: self-mining and cloud mining. Self-mining entails using the company’s equipment to mine Bitcoin. On the other hand, cloud mining refers to customers renting the company’s equipment to mine Bitcoin. BitFuFu’s self-mining production rose to 98 BTC from 88 BTC in August. However, its cloud mining production dropped to 69 BTC from 86 BTC for the same period.
Nonetheless, BitFuFu faces a significant business risk as its planned investment in an 80-megawatt Bitcoin mining facility in Ethiopia may be derailed by a dispute between the owner of the facility and its electricity supplier. In particular, the company has already paid $4.1 million to the sellers and is considering terminating the deal and seeking arbitration.
The latest reports on the two companies’ Bitcoin positions offer fresh insights into how listed firms buy or make profits from the world’s largest digital asset. In particular, Smarter Web uses funds from investors and other financial arrangements to purchase Bitcoin, whereas BitFuFu relies to a certain extent on its mining activities.
However, both firms’ Bitcoin positions are exposed to significant risks, given the highly volatile nature of the cryptocurrency market. Therefore, the future success of both companies ultimately depends on business and operational decisions as well as broader market conditions.
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