Bitcoin Treasury Corporation Announces Intention to Commence Normal Course Issuer Bid

Executive Summary

• Bitcoin Treasury Corp. announced the initiation of a Normal Course Issuer Bid to repurchase and cancel up to 989,228 common shares (~10% of public float).
• The NCIB will commence on January 5, 2026 and may run for up to 12 months, funded from cash, revenues, working capital and/or Bitcoin sales.
• No insiders are currently planning to sell shares under the program; purchases will be executed through National Bank Financial on TSXV or alternative Canadian trading systems.

Key Details

• Maximum Shares: Up to 989,228 common shares (≈10% of public float).
• Commencement Date: January 5, 2026.
• Duration: Up to 12 months from the commencement date, unless the share limit is reached earlier or Bitcoin Treasury terminates the NCIB sooner.
• Funding Sources: Available cash, operating revenues, working‑capital balances and/or proceeds from the sale of Bitcoin holdings.
• Broker‑Dealer: National Bank Financial will act as broker‑dealer for all purchases.
• Purchase Price: Prevailing market price on the TSXV or alternative Canadian trading systems at the time of each purchase, subject to applicable securities law pricing rules.
• Cancellation: All shares purchased under the NCIB will be cancelled immediately.
• Insider Participation: To the company’s knowledge, no director, senior officer or other insider intends to sell shares under the NCIB (though future personal circumstances could change that).
• Strategic Rationale: Management views the NCIB as a tool to support long‑term objectives, increase Bitcoin per share, and buy back shares when they trade at a discount to net asset value.

Notable Quotes

“Having recently achieved receipt of our final base shelf prospectus, and funded our first Bitcoin loan, we're adding another tool to support our long‑term objectives. The NCIB is a core part of our capital markets strategy allowing us to repurchase our shares when market conditions warrant.” – Elliot Johnson, CEO