Key Takeaways
- Matador Technologies has been approved to raise up to $58 million over 25 months to expand its Bitcoin holdings.
- The company aims to increase its Bitcoin holdings from 175 to 1,000 by the end of 2026.
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The Ontario Securities Commission has given Canadian-listed Matador Technologies permission to sell up to CAD$80 million ($58 million) worth of stock over the next two years.
Matador aims to use the proceeds from the stock offering to increase its Bitcoin holdings to 1,000 by the end of 2026. The company currently holds 175 BTC, worth about $15 million.
Matador said the move supports its ongoing strategy to strengthen Bitcoin per share and adapt to market conditions for strategic financial growth.
“Obtaining receipts for our C$80 million base prospectus is an important step in maturing our capital structure,” said CEO Deven Soni. He added that this regulatory approval provides the company with speed and flexibility to access capital when it is most advantageous.
“We remain focused on growing our Bitcoin per share over time and continue to target a treasury balance of 1,000 Bitcoin by the end of 2026,” he added.
Mark Moss, Matador’s chief vision officer, said the new capital framework will allow Matador to take a cautious, long-term approach to Bitcoin accumulation, supporting the company’s goal of growing its assets from around 175 bitcoins while managing volatility and market timing.
A Bitcoin-focused company may also use available capital for other corporate purposes, depending on market conditions, regulatory requirements, the company’s financial condition and other factors.