Bitcoin Treasury Capital

The company adopts a "pure Bitcoin reserve" model, with its core business being to continuously increase its Bitcoin holdings through capital market financing, providing investors with compliant and transparent exposure to Bitcoin assets. The specific model includes: Equity financing drives increases: By issuing stocks to raise funds, for example, completing an initial public offering (IPO) of 150 million Swedish Krona (approximately 14.7 million USD) in July 2025, all proceeds will be used to purchase Bitcoin. Continuous accumulation strategy: After initiating the first acquisition of 66 bitcoins (worth approximately 7 million USD) in June 2025, the monthly increase through the open market has resulted in a total holding of 156 bitcoins as of July 18, 2025. Investor Services: As a listed company, we provide institutional and individual investors with a channel for indirectly holding Bitcoin, avoiding the risks of managing private keys themselves, while enhancing transparency through regular disclosure of holding data.

The profits related to cryptocurrency completely depend on the appreciation of Bitcoin assets, with specific paths including: Bitcoin price volatility gains: From June to July 2025, the price of Bitcoin rose from $105,000 to $118,000, driving the company's unrealized gains to increase by approximately $1.8 million (calculated based on 156 holdings). Equity financing leverage effect: Expanding capital scale by issuing new shares, for example, signing an ATM-type financing agreement with shareholders for 200 million Swedish Krona (approximately 19.5 million USD) in July 2025, allowing for flexible fundraising to increase Bitcoin holdings over the next 6 months, amplifying asset appreciation gains. Enhancement of Shareholder Value: The stock price is strongly correlated with the price of Bitcoin, with an increase of 28% in stock price after the listing in July 2025, reflecting the market's recognition of its reserve strategy.

Financial anti-inflation tool: Bitcoin reserves account for 98% of the company's total assets. Against the backdrop of the Swedish central bank's inflation rate reaching 4.2% in the first half of 2025, Bitcoin's anti-inflation properties effectively hedge against the risk of fiat currency depreciation. Institutional Entry Benchmark: As Sweden's first publicly listed company with pure Bitcoin reserves, its model serves as a reference for traditional European financial institutions. By Q3 2025, two German asset management companies plan to emulate this model. Market confidence transmission: Regularly disclosing position data (such as weekly updates on Bitcoin holdings) enhances investors' confidence in the compliance of cryptocurrencies and promotes the acceptance of Bitcoin among institutional investors in Europe.

Bitcoin ( BTC ): Supply and demand structure impact: The company's continuous increase in holdings directly reduces the market circulation. By July 2025, its holdings will account for 0.00075% of the global circulating Bitcoin, temporarily pushing the price up by about 0.3%. Institutional Demonstration Effect: As the first publicly listed company in Europe with a pure Bitcoin reserve, its strategy is seen as a signal for institutional entry, prompting the Swedish pension fund AP4 to announce an allocation of 0.5% of its assets to Bitcoin. Other cryptocurrencies: Currently, there is no public information indicating that the company holds Ethereum (ETH), Solana (SOL), or other cryptocurrencies; the business focus is entirely on Bitcoin.