B HODL repurchases 618K shares for $43,400 to boost Bitcoin per share metrics

B HODL Plc just spent roughly $43,400 buying back 618,000 of its own shares, and the math behind why it did so is more interesting than the dollar amount suggests. The Isle of Man-based Bitcoin treasury company executed the repurchase on July 24, picking up shares at a volume-weighted average price of 5.27 pence each. The total cost came to approximately £32,569. The goal: reduce the number of outstanding shares so that each remaining share represents a larger slice of the company’s Bitcoin holdings. Why buy shares when you could buy Bitcoin B HODL’s shares are currently trading at roughly an 8% discount to the company’s net asset value. When a Bitcoin treasury company trades below NAV, buying back shares effectively acquires Bitcoin exposure at a cheaper rate than purchasing BTC on the open market. According to the company’s own analysis, this equity retirement strategy achieves approximately 24% more sats per share compared to direct Bitcoin purchases. B HODL holds approximately 166 BTC in its treasury, valued at around £8 million as of July 2026. By retiring shares instead of accumulating more Bitcoin, the company increases the book value per share and the satoshis per share for...