Canadian Bitcoin custodian Matador approved to raise up to $58M to expand Bitcoin treasury
Canadian Bitcoin custodian Matador received approval to raise up to $58 million to significantly increase its Bitcoin holdings by 2026.Summary
Matador Technologies, a publicly traded Canadian company, has received approval from the Ontario Securities Commission to sell up to CAD $80 million (approximately $58 million) in shares over the next 25 months. The primary goal of this capital raise is to expand the company's Bitcoin treasury, which currently stands at 175 BTC (worth about $15 million). Matador aims to increase its Bitcoin reserves to 1,000 BTC by the end of 2026. CEO Deven Soni stated that the approval of the base shelf prospectus provides the necessary speed and flexibility to access capital advantageously, supporting the strategy to increase Bitcoin per share. The company may also use the capital for other corporate purposes depending on market conditions.
(Source：Crypto Briefing)