Bitcoin Treasury repurchases 133,900 shares in February

Executive Summary

• Bitcoin Treasury Corp. provided an update on its Normal Course Issuer Bid (NCIB) for the period of February 1–28, 2026, announcing the purchase and retirement of 133,900 common shares.
• The company increased its Bitcoin per Share (BPS) by 0.23% year-to-date, reaching 0.00006359 BPS, despite a decrease in total Bitcoin holdings due to operational scaling.
• The NCIB allows for the repurchase of up to 989,228 common shares (approx. 10% of public float), with management targeting buybacks when shares trade at a discount to the value of Bitcoin holdings.

Key Details

• Shares Purchased and Retired: 133,900 common shares.
• Purchase Period: February 1, 2026, through February 28, 2026.
• Average Purchase Price: $4.33 per share.
• Bitcoin per Share (BPS) Growth: Increased 0.23% year-to-date to 0.00006359 BPS.
• Total Bitcoin Holdings: Decreased to 761.63 BTC as of Feb. 28, 2026.
• Shares Outstanding: 9,893,980 common shares; 11,977,313 diluted common shares.
• NCIB Capacity: Up to 989,228 common shares (approx. 10% of public float as defined by TSX-V).
• Strategic Context: The company is scaling its Bitcoin lending business and Bitcoin price risk management program, expecting operating income to support future share repurchases.

Notable Quotes

• "Our NCIB remains an important capital allocation tool that allows us to increase bitcoin per share when our stock trades at a discount to the value of our bitcoin holdings. We are pleased to see continued progress and will remain disciplined and opportunistic in executing buybacks that enhance long-term shareholder exposure to bitcoin." — Elliot Johnson, Chief Executive Officer