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Capital B bought 192 bitcoin for 13 million euros, or about $15.1 million, after completing three capital increases. The France-based bitcoin treasury company said the new funds came from TOBAM, Adam Back, and a private placement. At the same time, Bitcoin Depot, North America’s largest Bitcoin ATM operator, filed for Chapter 11 bankruptcy and shut its network of more than 9,000 machines.
Capital B said it finalized three capital increases worth about 17.15 million euros, or about $20 million. It used the proceeds to buy bitcoin, as it had already said it would.
The company raised about 850,000 euros through an ATM-type capital increase agreement with TOBAM. It also raised 1.1 million euros through share subscription warrants that Adam Back subscribed to. The remaining 15.2 million euros came from a private placement of more than 23 million ABSA shares. Each share carried four share subscription warrants.
Capital B now holds 3,135 BTC. The company said it acquired those coins at an aggregate value of $330 million, which implies an average purchase price of $105,270 per bitcoin.
The company, formerly known as The Blockchain Group, rebranded in July 2025. It said the move reflected its focus on a bitcoin treasury strategy.
Capital B also said its placement reached investors in the U.S., Europe, and other regions. Maxim Group acted as lead placement agent, while Marex served as co-manager.
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Bitcoin Depot filed for Chapter 11 bankruptcy protection in the Southern District of Texas. The filing also covers its Canadian entities, and the company expects separate restructuring proceedings in Canada.
CEO Alex Holmes said the regulatory environment for Bitcoin ATM operators had changed sharply. He said states added tougher compliance rules, lower transaction limits, and in some cases bans or restrictions.
Holmes also said the company faced more litigation and enforcement actions. He said those pressures affected Bitcoin Depot’s business and financial position. The company said it explored other options before seeking court protection. It then chose a court-supervised process to support an orderly wind-down and a sale of its assets.
Bitcoin Depot had already faced financial strain before the filing. The company reported a 49.2% year-over-year revenue drop in the first quarter of 2026. It also posted a $9.5 million net loss for the quarter. That compared with $12.2 million in net income a year earlier.
Capital B strengthened its Bitcoin treasury strategy after raising fresh capital and purchasing 192 BTC. At the same time, Bitcoin Depot filed for Chapter 11 bankruptcy after mounting regulatory pressure and declining revenue disrupted its Bitcoin ATM business across North America.
