According to CoinMeta, Capital B announced a new private placement financing of 7.6 million euros with strategic investor Adam Back. The funds will be used to purchase 376 bitcoins, with the expectation of increasing its holdings to 3,521 BTC. As per the announcement on September 2nd, Back subscribed for 13,181,030 shares at a price of 0.58 euros per share, with a total financing amount of 7.64 million euros. After deducting fees, the expected net profit is approximately 7.3 million euros. Capital B plans to use the funds primarily to increase its holdings of bitcoins as a long-term reserve asset and continue its strategy of growing its holdings per bitcoin. This financing follows another private placement at the same price announced a few days prior. Upon completion of this acquisition, Capital B's potential holdings will increase to 3,521 BTC, from its current holding of 3,145 BTC.