Smarter Web adds $30M Coinbase credit line to speed Bitcoin buys after fundraises
The UK-listed Bitcoin treasury company says the facility will bridge equity settlements, enabling faster Bitcoin purchases during volatile markets.
Last updated: 2026-02-24 16:52:21 ET
Pulse AI Brief
Updated Feb 24, 2026 4:00 PM ET
Bitcoin's recent price drop below $63,000 has rendered mining operations unprofitable for many, according to analysts. The downturn in crypto markets has intensified financial pressures on miners.
This development could lead to reduced mining activity, affecting Bitcoin's supply dynamics and potentially stabilizing or increasing its price. Miners may face liquidity issues, impacting stocks like Riot Blockchain (RIOT) and Marathon Digital (MARA).
The profitability crisis highlights the volatility and risks inherent in the crypto sector, possibly leading to increased regulatory scrutiny and shifts in investor sentiment.
The UK-listed Bitcoin treasury company says the facility will bridge equity settlements, enabling faster Bitcoin purchases during volatile markets.
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The company sold more common shares to buy $40 million worth of bitcoin, even as its total holdings are more than $8 billion in the red.