The Smarter Web Company completed a fundraising of 10 million pounds, purchasing 4 million pounds worth of Bitcoin

According to The Block, the UK Bitcoin treasury company The Smarter Web Company is conditionally raising £10 million (approximately $13.2 million) through a preferred stock issuance. Of this, £4 million (approximately $5.3 million) in net proceeds will be used to increase its Bitcoin holdings.

This batch of preferred shares is expected to start trading in London on October 14, with an initial annual dividend yield of 12%, paid weekly.