Institutions Continue to Show Interest in Bitcoin! Sweden-Based Company Opens Digital Asset Division! Here Are the Details

Sweden-based digital trading company Refine Group announced that it has raised 10 MSEK (approximately $1 million) in capital and launched a new business line, Digital Assets, powered by a Bitcoin-based treasury strategy.

Refine Group has launched a third business unit, Digital Assets, in addition to its existing “Products” and “Digital Services” businesses. With this new division, the company is adopting a treasury strategy that aims to hold Bitcoin as a strategic reserve asset on its balance sheet.

To finance the company’s first Bitcoin investment, the board of directors approved the issuance of directed shares worth 10 MSEK to new and existing investors, based on the authority of the general meeting.

The new business unit plans to measure long-term shareholder value using the “Bitcoin per Share” metric. This metric will serve to reflect Refine’s growth potential through its Bitcoin accumulation strategy.

Refine Group states that it believes Bitcoin is not just a reserve asset, but an evolving part of the digital financial landscape. The company intends to actively explore opportunities to adopt and optimize Bitcoin’s position as a core reserve, drawing inspiration from industry best practices.

10 MSEK Raised with the Issuance of 54,377 Shares

To announce the new business and raise funds for its initial Bitcoin investment, the company issued 54,377 shares through a directed sale. The subscription price per share was set at SEK 0.1839. This price was offered at a 20% discount compared to the weighted average price over the last seven trading days. This sale generated a total proceeds of SEK 10.

The company states that this new Bitcoin-focused business will strengthen Refine’s financial position and pave the way for new partnership opportunities with institutional investors and technology firms. It also emphasized that it will continue to expand its existing services in e-commerce, cloud solutions, and data-driven marketing.

Refine Group’s move is noteworthy as part of a trend by institutional companies to integrate Bitcoin into their reserve strategy.

*This is not investment advice.

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