The Smarter Web Company plans to issue perpetual preferred shares under the ticker MORE, according to Bitcoin News cited by ChainCatcher. The company is targeting fundraising of £15 million to £25 million, with a minimum raise of £10 million. Admission for listing requires backing from three market makers. Holders of the preferred shares would be entitled to cumulative weekly dividends and liquidation preference, but they would not receive voting rights. The company would also retain the option to redeem the shares. As of mid-2026, SWC held 2,878 BTC. The report added that, following a court-approved capital reduction by the High Court, the company had £132.5 million in distributable reserves available for payments.

BitcoinTreasuries.NET reported on X that The Smarter Web Company (SWC), a UK-listed firm, added 35 BTC to its holdings, bringing its total to 2,747 BTC and ranking 29th globally.

A growing list of public companies that once embraced the bitcoin treasury model are now selling BTC, paying down debt and reworking their balance-sheet strategies after sharp declines in both bitcoin and their own share prices. CoinDesk reports that Strategy, Satsuma Technology, Smarter Web Company, Sequans Communications, Nakamoto and Empery Digital have all sold bitcoin for purposes ranging from debt repayment and operating needs to stock buybacks and cash preservation. Crypto miners including MARA Holdings and Bitdeer are also reducing holdings, using proceeds to repay or repurchase debt while shifting energy and computing capacity toward AI data centers. The pressure extends beyond asset sales. Leadership turnover at Twenty One Capital and the collapse of Bitcoin Standard Treasury Company’s proposed merger point to broader strain across the digital-asset treasury sector. Even so, Strategy remains the largest public bitcoin holder with more than 840,000 BTC, and CEO Michael Sayler said limited sales would not amount to a broad exit plan.

Stand With Crypto UK launches campaign urging members to file formal complaints against banks that block or cap crypto transfers, citing FCA data showing 40% of domestic crypto transactions are blocked.

The Smarter Web Company, a U.K.-listed firm, said Thursday that it sold 177.89 BTC to raise funds for the early repayment of its "Smarter Convert" financing instrument with French asset manager TOBAM Group. The bitcoin was sold at an average price of $65,762 per coin, generating $11,698,540, all of which was used to repay the financing around two weeks before maturity. Under an agreement signed in August 2025, the company was required to allocate at least 98% of the financing proceeds to bitcoin and ultimately deployed 100% of the funds into BTC, which meant the full principal had to be repaid. Smarter Web said the early redemption also removed the potential dilution associated with a future issuance of 7,718,551 ordinary shares. After the sale, the company still holds about 2,700 BTC. CEO Andrew Webley said convertible financing tools denominated in fiat or bitcoin still have advantages, but no longer fit the company’s current capital strategy. London Stock Exchange data showed SWC shares were still up nearly 2% in Thursday morning trading, while TD Cowen earlier this week cut its target price on the stock by 36% after revising its bitcoin outlook.

Coinbase posted a $1.49 per-share net loss and cut 14% of its workforce in early May, but continued to highlight the growth of Stand With Crypto, which says it has 3.7 million members and 500 events planned across four continents.

TD Cowen cut Strategy's price target from $440 to $350, maintaining Buy. It also initiated coverage on Sharplink, Strive, Nakamoto Holdings, and The Smarter Web Company, all rated Buy, with three scenario analyses.

TD Cowen forecasts Bitcoin base price of $140K by Dec 2026, with upside to $175K. The bank cuts Strategy target to $350 but maintains Buy, and initiates coverage on four crypto treasury firms.