Norway’s K33 Aims for 1,000 BTC Treasury with Bold $9M Bitcoin Acquisition Push

Norway’s K33 is making waves in the crypto space with a daring $9 million fundraising effort to bulk up its Bitcoin reserves. The target? A cool 1,000 BTC in its treasury—because why let central banks have all the fun?

This isn’t just another institutional dip into crypto; it’s a full-throttle commitment to Bitcoin as a cornerstone asset. While traditional finance clings to outdated models, K33’s move screams confidence in digital gold.

Will this spark a Nordic crypto rush? Or is it just another hedge against fiat’s inevitable decline? Either way, the message is clear: Bitcoin isn’t just for rebels anymore—it’s going corporate. (And yes, we see the irony.)

K33 Advances Bitcoin Accumulation Strategy After May 28 Disclosure

K33’s initiative follows a May 28 announcement detailing a dedicated BTC accumulation strategy.

By holding bitcoin directly, the firm aims to unlock operational leverage that would improve profit margins, enable new product lines, and bolster appeal to institutional partners.

The company believes this approach will fuel scalable growth without exposing the acquired BTC to risk.

The directed share issue offers quick access to capital, allowing K33 to respond swiftly to favorable market opportunities while bringing in strategically aligned investors.

CEO Torbjørn Bull Jenssen said that the financing round marks a major step toward the company’s near-term target of acquiring 1,000 BTC.

“We strongly believe that Bitcoin represents the future of global finance and are positioning K33 to benefit maximally from this,” said Jenssen.

“A strong balance sheet built on Bitcoin enables us to significantly improve our brokerage operation while maintaining full exposure to Bitcoin’s upside potential.”

The company has not set an upper limit for the raise, giving it flexibility to expand its BTC reserves further should demand from investors allow. The board retains the discretion to introduce a maximum offer size at a later stage.

Norwegian digital asset firm K33 has announced the launch of a new round of directed share issuance, aiming to raise at least SEK 85 million to purchase up to 1,000 Bitcoins to be held on the company’s balance sheet. The offering has already received full subscription…

K33 is recognized in the Nordics for its role in digital asset brokerage and research, and this latest initiative places it among a growing number of firms pursuing Bitcoin treasury strategies.

VanEck Warns BTC Treasury Strategy May Backfire

Just recently, VanEck’s head of digital asset research, Matthew Sigel, raised concerns about the Bitcoin treasury strategies used by certain public companies, suggesting that continued accumulation of BTC could soon harm shareholders more than help.

He specifically criticized the use of at-the-market (ATM) share issuance programs, warning that they can become dilutive when stock prices approach the company’s Bitcoin net asset value (NAV).

Sigel proposed several measures to prevent value erosion, including pausing ATM programs if a company’s stock trades below 0.95x NAV for over 10 days.

He drew comparisons to past failures in the crypto mining sector, where excessive dilution and executive pay led to major shareholder losses.

As an example, he cited Semler Scientific, a medical tech firm that entered the BTC space in 2024.

Despite acquiring 3,808 BTC, its stock has fallen over 45%, and its mNAV has dropped to 0.82x.