22nd Sep 2025 09:56
(Alliance News) - B Hodl PLC on Monday joined London's Aquis Stock Exchange with a market capitalisation of around GBP19.6 million.
The Douglas, Isle of Man-based company describes itself as "founded exclusively for bitcoin accumulation and revenue generation from the bitcoin in its treasury".
Its initial public offering raised GBP15.3 million through subscriptions for around 95.3 million at 14 pence each. Based on the IPO price, B Hodl's market cap is GBP19.6 million, with 139.9 million shares in issue on the Access segment of the AQSE Growth Market.
B Hodl shares were quoted at 17.88 pence on Monday morning.
The company last Tuesday announced a retail offer for up to 3.8 million shares at 14p, intended to raise up to GBP500,000. It closed the offer at noon on Thursday, ahead of the planned Friday afternoon deadline, citing "the level of demand received."
The retail offer was in addition to a conditional raise of GBP13.3 million through subscriptions which the firm had already reported on Tuesday.
B Hodl plans to issue further shares to fund purchases of "a significant amount of Bitcoin, as quickly as possible," it said. The firm's initial revenue source will be the operation of lightning nodes and related routing fees. Lightning nodes are a type of software which provides access to the lightning network payment system, developed as a second layer to the underlying bitcoin blockchain.
"The directors believe that revenue generating activities will grow and diversify markedly in the future," B Hodl noted on Monday.
On admission, B Hodl said its board will include four executive directors, one non-executive director and non-executive Chair David Jaques, former chief financial officer of PayPal Inc, and alumnus of Silicon Valley Bank and Barclays PLC.
Chief Finance Officer David Patrick Martin Boylan is currently CFO of crypto industry peer CoinCorner Ltd, whose CEO Daniel Lawrence Scott is B Hold's Chief Bitcoin Officer. B Hodl's Chief Executive Officer Frederick Edmund is a solicitor and co-founder of Bitcoin Policy UK.
"We are proud to be the first listed British company dedicated from day one to bitcoin accumulation and revenue generation," Edmund commented on Monday.
"The strong support we have received from our new investors, with the [retail] offer upsized and closed early due to demand, underlines the scale of interest in bitcoin's long-term potential - both as an asset and as a means of payment," the B Hodl CEO added.
The term "hodl" originated in the cryptocurrency sector as a misspelling of "hold", and now refers to the acronym "hold on for dear life", understood as a type of investment strategy.
By Holly Munks, Alliance News reporter
Comments and questions to [email protected]
Copyright 2025 Alliance News Ltd. All Rights Reserved.
Related Shares: