The Smarter Web Company, a UK-listed Bitcoin treasury firm, has secured a $30 million Bitcoin-backed credit facility from Coinbase Credit. The facility is secured against Bitcoin held in custody with Coinbase and is designed to allow the company to deploy capital into Bitcoin (BTC) immediately after completing equity fundraising rounds. This strategy aims to reduce settlement timing risk in volatile markets, though the company stated it does not intend to use the facility as long-term debt to finance Bitcoin purchases.
Smarter Web is listed on the London Stock Exchange’s Main Market and also trades on the OTCQB Venture Market in the United States. The company describes Bitcoin as a core component of its treasury strategy and has previously expressed aims to expand its digital asset holdings.
The move comes amid shifting trends for digital asset treasuries (DATs). Data from DefiLlama shows DATs recorded massive net inflows of $4 billion in December 2025 and $3.7 billion in January 2026, before cooling significantly to just $363 million through February 24, 2026. While inflows remain positive, February totals are tracking well below the late-2025 peaks.
According to BitcoinTreasuries.net, Smarter Web holds 2,689 Bitcoin, acquired at an average cost of $112,865 per coin. At current prices, this positions the company's holdings at roughly $170 million, reflecting an unrealized loss of about 44% based on the reported cost basis. On September 12, 2025, the company reported holding 2,470 BTC and described itself as the UK’s largest corporate Bitcoin holder at the time. The latest data suggests continued accumulation since then.
The new credit facility would allow Smarter Web to borrow against its existing Bitcoin holdings to move quickly following equity raises, repaying the credit once fundraising proceeds settle. The company has also signaled interest in acquiring competitors to expand its treasury and aspires to join the FTSE 100 index.
This development highlights diverging corporate Bitcoin strategies. On one hand, companies like Strategy continue to accumulate BTC, with its 100th purchase since 2020 bringing its total holdings to 717,722 BTC. In contrast, Bitdeer recently announced it liquidated its entire Bitcoin treasury, reducing corporate holdings to zero while raising capital through a convertible debt offering.
