Oslo-based cryptocurrency brokerage K33 has initiated a share issue aiming to raise at least 85 million Swedish krona ($8.9 million) to significantly expand its corporate Bitcoin holdings.
The capital raised will be used to acquire up to 1,000 Bitcoin for K33’s treasury reserves. The company stated this strategic move is designed to enhance operational leverage, improve margins, and attract institutional clients seeking exposure to Bitcoin.
As an initial step in its accumulation plan, K33 has already purchased 5 Bitcoin, valued at approximately $523,000. Pareto Securities is managing the share offering.
The offering is structured to exclude participation from investors based in the U.S., Canada, Australia, Russia, and South Korea due to compliance with regulatory restrictions in those jurisdictions.
This corporate Bitcoin adoption aligns with a growing trend among Norwegian businesses, following similar initiatives by entities like Norwegian Block Exchange and industrial investment firm Aker ASA.