UK bitcoin treasury company The Smarter Web Company conditionally raises £10 million, with part of the proceeds intended to increase its BTC holdings.

PANews October 12 news, according to Investegate, UK Bitcoin treasury company The Smarter Web Company announced that it has conditionally raised £10 million (approximately $13.2 million) through a preferred share issuance. The company plans to use approximately £4 million (approximately $5.3 million) of the net proceeds to continue increasing its Bitcoin holdings.

It is reported that the preferred shares are expected to be listed for trading in London on October 14, with an initial annual dividend rate of 12%, paid weekly.