Norwegian Crypto Firm K33 Secures $6.2 Million to Launch Bitcoin Treasury Strategy

Norwegian cryptocurrency brokerage firm K33 has successfully raised 60 million Swedish kronor (approximately $6.2 million) to launch its Bitcoin treasury strategy. The financing, which includes convertible loans and the issuance of new shares and warrants, marks the company's entry into the growing list of public companies adopting Bitcoin as a strategic reserve. This move aligns with K33's broader vision of leveraging Bitcoin not only as an investment asset but also as a strategic enabler for its operations.

Details of Financing and Strategy

K33 announced the completion of its financing initiative on May 28, 2025. The funds were raised through a combination of convertible loans totaling 45 million SEK ($4.6 million) and the issuance of new shares and warrants worth 15 million SEK ($1.5 million). The convertible loans are interest-free and will mature on June 30, 2028, while the warrants can be converted to equity at the same price by March 2026. If fully exercised, K33 could raise an additional 75 million SEK ($7.7 million) to further expand its Bitcoin holdings.

K33 secures financing of SEK 60 million to buy Bitcoin and launch its Bitcoin Treasury Strategy.pdf, Souce:k33.com

The company's CEO, Torbjørn Bull Jenssen, expressed strong confidence in Bitcoin's potential, stating, "We strongly believe that Bitcoin will become an instrumental part of the global financial system." He added that Bitcoin is not just a high-conviction investment but also a tool to unlock operational synergies within K33's brokerage operations.

Strategic Goals and Future Plans

K33's Bitcoin treasury strategy is part of a broader plan to expand its product capabilities. The company aims to use its Bitcoin reserves to strengthen its financial position, improve trading margins, and launch new services such as Bitcoin-backed lending. Jenssen emphasized that this initiative is inspired by best practices across the industry and aims to set a foundation for future growth. He stated, "Why wait for the government to build a Bitcoin reserve when you can build your own?"

The company's interim report for the first quarter of 2025 revealed substantial financial growth. The company celebrated this milestone on X, posting, " K33 Reports Record Q1 2025 Results. We’ve just published our Q1 2025 Interim Report — marking another milestone quarter with 450M SEK in revenue, a 20% increase from Q4 2024 and 3x growth from Q1 2024."

The financing structure and strategic partners are crucial in this initiative, with significant roles played by the Klein Group and other investors. The directed issue of shares and warrants is expected to enhance K33's financial flexibility and support its strategic objectives. By joining the ranks of public companies holding Bitcoin, K33 is positioning itself as a leader in the Nordic region's cryptocurrency space. The company aims to collaborate with other Bitcoin treasury firms and leverage its reserves to unlock new revenue streams, product capabilities, and partnerships.