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

UK bitcoin treasury company The Smarter Web Company raised $13.25 million through a preferred share issuance. Its $MORE shares will begin trading on the London Stock Exchange main market on Wednesday, with the first weekly dividend scheduled for November 9. Of the proceeds, 47.93% is earmarked for buying additional bitcoin, 46.08% for working capital and general corporate purposes, and 5.99% for business growth.

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AI take

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.

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