K33 (K33) Investor Update summary
Event summary combining transcript, slides, and related documents.
Investor Update summary
15 Oct, 2026Strategic rationale and market context
Bitcoin is increasingly viewed as a global reserve asset, with institutional adoption accelerating in the U.S. and expected to gain momentum in the EU under regulations such as MiCA.
The strategy combines an operating business with a Bitcoin treasury to capture BTC upside and operational synergies, differentiating the model from pure Bitcoin holding companies.
Formerly Arcane Crypto, the business exited mining because of uncompetitive energy costs and now focuses on enabling miners to sell Bitcoin.
Business model and operational strengths
Institutional-grade trading infrastructure offers personalized support, competitive pricing, FX flexibility and direct bank deposits for high-net-worth individuals, corporations and financial institutions.
The platform recorded six consecutive quarters of growth since Q3 2023; Q1 year-over-year growth was 200%, with 20% quarter-over-quarter growth.
Product enhancements include instant 24/7 bank deposits and upcoming limit orders, alongside plans to distribute products through partners.
Capital raise and use of proceeds
A directed share issue seeks at least SEK 85 million at SEK 0.1036 per share, with pre-commitments covering the minimum offer size.
Net proceeds from current and future capital raises are earmarked for Bitcoin purchases, with an initial balance-sheet target of up to 1,000 BTC.
Bitcoin holdings are intended to improve brokerage margins, support new products and help secure larger institutional partners while retaining BTC exposure.
The offer price matches the 17 June 2025 closing price; pre-commitments include EUR 100,000 from CEO Torbjørn Bull Jenssen through Muunilinst AS.
The current round is guaranteed at least $8.5 million; $6 million has previously been raised from key shareholders.
Latest events from K33
- MiCA license drives European growth as H1 revenue rises 10% despite Q2 market softness.K33
Q2 2026 - Revenue up 73% QoQ, lending launched, and MiCA readiness achieved amid Bitcoin volatility.K33
Q1 2026 - 2025 revenue more than doubled to 2,211 MSEK, with strong growth despite crypto volatility.K33
Q4 2025 - Record Q3 revenue, 270% growth, and positive EBITDA highlight strong operational momentum.K33
Q3 2025 - Q2 2025 revenue rose 108%, Bitcoin reserves grew, and Q3 volumes are set to double.K33
Q2 2025 - Rebranding after 787% Q3 growth, K33 drives institutional digital asset expansion and innovation.K33
Strategy Update - Q3 revenue surged 31% sequentially, with K33 driving growth despite crypto market headwinds.K33
Q3 2024 - Record Q2 revenue and positive EBITDA highlight Arcario's accelerating growth and K33 focus.K33
Q2 2024 - Delivered 20% sequential and 200% YoY growth, launching a Bitcoin Treasury strategy.K33
Q1 2025