Swedish Refine Group Launches $1M Bitcoin Treasury Strategy

Key Points

1. Refine Group AB raised 10 million Swedish krona through a directed share issue to fund its initial Bitcoin purchases.

2. The company introduced a new performance metric, 'Bitcoin per Share,' to track its Bitcoin holdings.

3. Caldas Capital, led by entrepreneur João Caldas, emerged as the largest participant in the funding round.

4. The share issuance will increase Refine’s outstanding shares from 67.5 million to 121.9 million, resulting in approximately 45% dilution for existing shareholders.

5. Refine Group joins other publicly-traded firms like MicroStrategy and Japan’s Metaplanet in adopting Bitcoin treasury strategies.