How the ATM (Subscription Agreement) works

In December 2025 the company signed a new Subscription Agreement with its broker. In January 2026, 50,000,000 new shares were issued to the broker at par.

• The broker sells those shares into the market over time.
• It sells no more than 25% of weekly volume and never below the previous close.
• The company receives about 98% of the proceeds and uses them to buy bitcoin or for working capital.
• Each week with sales, a Subscription Agreement Update RNS reports the shares placed, proceeds and how many remain unsold.

Track every update on the Treasury page.