Stack BTC plans to purchase Direct Bullion for $16 million to enhance its bitcoin holdings through precious metals sales.
Stack BTC, a bitcoin treasury firm in the U.K., is planning to purchase the precious metals dealer Direct Bullion for up to £12 million, roughly $16 million. This acquisition aims to generate cash flow from precious metals sales to bolster Stack's bitcoin reserves.
Strategic Acquisition Aimed at Bitcoin Enhancement
The deal proposes a payment structure of £3 million in cash, approximately £4 million in shares upon completion, and an additional £5 million based on performance metrics. Shares will be priced at a minimum of 6 pence each and will carry a four-year lock-in period.
This transaction is categorized as a related-party deal since Stack's director, Paul Withers, has affiliations with Direct Bullion's seller. It is deemed a reverse takeover and is contingent upon further due diligence and final agreements.
For the fiscal year ending January 2026, Direct Bullion reported £52.1 million in revenues and a net profit of £2.15 million. This acquisition marks Stack's initial move in acquiring profitable ventures to fund bitcoin investments.
Kwasi Kwarteng, executive chairman of Stack BTC, emphasized the firm's dual approach: "Buying bitcoin directly from capital raising and also buying businesses to generate fiat to buy bitcoin: This is the twin pillar strategy in action.”
Nigel Farage's involvement in Stack BTC became public on March 9, when he acquired about 6.3% of the company through a £215,000 investment via his firm, Thorn In The Side. Recently, Farage's political party, Reform UK, received nearly $97 million in donations from crypto billionaires Christopher Harborne and Ben Delo, each contributing $48.5 million.
Stack BTC currently holds around 68 BTC, valued at approximately $5.2 million. Following the acquisition announcement, the company's shares experienced a 1% decline.
