How the ATM (Subscription Agreement) works
The at-the-market facility the company uses to raise money and buy bitcoin.
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.
Updated 23 Sept 2026. Educational content only, not investment advice.