UK Bitcoin treasury firm Smarter Web raises $13.25M via preferred shares

This is a notable twist on the bitcoin-treasury model: rather than common equity or convertible debt, the company is using preferred shares with a weekly dividend, which may attract yield-focused capital while still directing nearly half the proceeds into bitcoin. The structure creates a dual exposure — bitcoin upside alongside a fixed dividend obligation — so the sustainability of those payouts will depend on how the treasury and operating business perform. Whether this preferred-share template gains traction among other treasury companies, and how the weekly dividend is received once trading begins, is the open question.