Matador to raise $58M for more bitcoin purchases

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Suja Sunderarajan

Author

Suja Sunderarajan

Since part of the group

June 2023

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Suja was recognized by BeInCrypto for her leadership in crypto journalism 🟣 Women in Crypto 2024.

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Last Updated:

December 23, 2025

Canadian Bitcoin custodian Matador Technologies aims to raise $58 million (CAD80 million) to increase its Bitcoin reserves from 175 BTC to 1,000 BTC by the end of 2026.

The firm announced Monday that it has received approval from the Ontario Securities Commission to sell up to $58 million of “common shares, warrants, subscription receipts, debt securities or units” over the next 25 months.

“The receipt of our CAD $80 million base shelf prospectus is an important step in growing our capital structure,” said Matador CEO Devon Soni.

Sony added that the fund will focus on “increasing bitcoins per share over time” to raise 1,000 BTC by the end of 2026.

“Matador may allocate available capital for bitcoin purchases or other corporate purposes from time to time based on market conditions, regulatory requirements, the company's financial position and other factors.”

Matador completed a year in the ‘Bitcoin-First Strategy'

The Toronto Stock Exchange-listed firm has executed its ‘Bitcoin-first strategy' by investing $4.5 million in BTC in December 2024. Company officials said at the time that Bitcoin would be “future proof of our treasure.”

Matador increased its BTC treasury by approximately 767% from December 10, 2024 to December 22, 2025, the announcement read.

“Bitcoin is a volatile asset, and navigating its cycles requires a long-term view and the ability to deploy capital in measured steps,” said Mark Moss, Matador's chief visionary officer.

Last month, the company closed its convertible note facility with the intention of buying bitcoin for Matador's balance.

Matador aims to increase its Bitcoin holdings to 6,000 BTC by 2027.

BTC Treasury trend is growing

The latest move is in line with the growing trend of corporations adding bitcoin to their coffers to hedge against inflation and currency collapse.

Matador's board has previously said that Canada's national debt burden will affect the purchasing power of the Canadian dollar. As a result, the company is diversifying its treasury with Bitcoin and USD, which the board says are more valuable stores of value.

Elsewhere, the strategy of Michael Saylor, the biggest bullish corporate Bitcoin owner, has paused his Bitcoin purchases. The company increased its cash reserves by $747.8 million to $2.19 billion through sales of common stock.