Spanish coffee chain Vanadi faces financial difficulties due to Bitcoin treasury model

According to CriptoNoticias, Spanish coffee chain Vanadi is facing difficulties after transitioning to a Bitcoin treasury model. The company incurred a loss of $7.8 million in 2025 and holds 213 BTC, of which 61% (approximately 130.18) are locked in Bit2Me as collateral. Vanadi issued 98.1 million convertible bonds at a discount of 5% below the market price to maintain operations, resulting in a 74% drop in stock price this year. The company is facing a payment gap of 1.4 million euros and will need to raise 65 million euros in the coming months.