Key Takeaways
- Matador Technologies has been approved to raise up to $58 million over 25 months to expand its Bitcoin holdings.
- The firm aims to increase its Bitcoin reserves from 175 to 1,000 by the end of 2026.
The Ontario Securities Commission has given Matador Technologies, a Canadian publicly traded company, the green light to sell up to CAD $80 million ($58 million) worth of shares over the next two years.
Matador aims to use proceeds from the share offering to increase its Bitcoin holdings, targeting 1,000 by the end of 2026. The company currently holds 175 BTC worth around $15 million.
Matador said the move supports its ongoing strategy to enhance its Bitcoin per share and adapt to market conditions for strategic treasury growth.
Mark Moss, Matador’s chief visionary officer, said the new capital framework enables Matador to take a measured, long-term approach to Bitcoin accumulation, supporting the company’s goal of increasing its treasury from roughly 175 Bitcoin while managing volatility and market timing.
The Bitcoin-focused company may also use available capital for other corporate purposes, depending on market conditions, regulatory requirements, the company’s financial position, and other factors.
Source: https://cryptobriefing.com/matador-bitcoin-treasury-expansion-canada/
