Bitcoin Treasury Corp. Acquires 292.80 BTC for C$43 Million

Bitcoin Treasury Corp. (BTCT) has acquired 292.80 bitcoin for C$43 million ($31.6 million), initiating a strategy to build a digital asset treasury. The Toronto-based company aims to use bitcoin as a long-term reserve asset and to support its institutional loans business.

Key points include:

Raised $125 million from a brokered share offering
Focus on disciplined risk management and shareholder value
Shares to begin trading on the TSX Venture Exchange on June 30
Merger with 2680083 Alberta Ltd allows BTCT to become public without a traditional IPO
Offering involved financial institutions such as Canaccord Genuity and BMO Capital Markets