Canadian Firm Matador Receives Ontario Regulator's Approval to Raise $58 Million for Bitcoin Purchases

Canadian Bitcoin custodian Matador Technologies has secured approval from the Ontario Securities Commission to raise $58 million (CAD80 million) to expand its Bitcoin holdings. The company plans to increase its reserves from 175 BTC to 1,000 BTC by the end of 2026.

Key Takeaways

Matador Technologies aims to raise $58 million to boost its Bitcoin reserves.
The Ontario Securities Commission approved the sale of shares and other financings.
The company has adapted a ‘Bitcoin-first strategy’ since December 2024.
Matador plans to grow its Bitcoin holdings to 6,000 BTC by 2027.
There is a trend among corporations diversifying their treasuries with Bitcoin to combat inflation.

Matador Bitcoin

Matador Technologies’ Ambitious Plans

Matador Technologies, a Canadian firm specializing in Bitcoin custody, is looking to gather $58 million (CAD80 million) to grow its Bitcoin holdings from 175 BTC to 1,000 BTC by 2026. On Monday, the company announced that it received the green light from the Ontario Securities Commission to offer up to $58 million "of common shares, warrants, subscription receipts, debt securities, or units" within the next 25 months.

According to Deven Soni, CEO of Matador, achieving the necessary receipt for the CAD $80 million base shelf prospectus is a significant milestone in enhancing the firm's capital structure. Soni mentioned that the targeted funds would focus primarily on "increasing Bitcoin per share over time" in the effort to amass 1,000 BTC by late 2026.

He also highlighted that Matador may allocate available funds toward Bitcoin acquisitions or other corporate needs, depending on various factors including market conditions, regulatory matters, and the company's financial situation.

A Year of the ‘Bitcoin-First Strategy’

Matador embraced its 'Bitcoin-first strategy' back in December 2024 by investing $4.5 million into Bitcoin. Company officials stated that Bitcoin is seen as the "future-proof of our treasury."

Since implementing this strategy, Matador's BTC treasury has ballooned by approximately 767% from December 10, 2024, to December 22, 2025. Mark Moss, Chief Visionary Officer at Matador, noted, "Bitcoin is a volatile asset, and navigating its cycles requires a long-term view and the ability to deploy capital in measured steps."

Recently, the company finalized the convertible note facility with the goal of exclusively acquiring Bitcoin for Matador's balance sheet, aiming to escalate its Bitcoin holdings to 6,000 BTC by 2027.

The Growing Trend of Bitcoin in Corporate Treasuries

Matador's recent initiatives correspond with a broader trend of corporations incorporating Bitcoin into their treasuries as a safeguard against inflation and currency depreciation. The company's Board has previously indicated that Canada's national debt could diminish the Canadian Dollar's purchasing power, prompting Matador to diversify its treasury with Bitcoin as well as USD, which they consider more stable assets.

Meanwhile, in a different sector, Michael Saylor’s strategy has halted further Bitcoin purchases despite being the largest aggressive corporate Bitcoin holder. The firm recently increased its cash reserves to $2.19 billion by selling common stock, totaling $747.8 million in cash bolstered through these transactions.