B HODL
B HODL is a publicly listed Bitcoin treasury company operating Lightning Network nodes to generate transaction fee revenue while accumulating Bitcoin as a treasury asset, serving UK and global investors seeking professionally managed Bitcoin exposure through equity markets.
- Company typePublic
- Founded-
- HeadquartersDouglas
- Headcount1–10
- GTM typeB2C
- OfferingServices
What B HODL does
B HODL is a publicly listed Bitcoin treasury company incorporated in the Isle of Man as B Hodl Plc, with shares trading on the AQSE Growth Market in the UK under the ticker $HODL and on the US OTCQB Market under BHODF. The company completed its admission to AQSE in September 2025 and positions itself as a "Bitcoin Treasury 2.0" vehicle, focused on acquiring, accumulating, and managing Bitcoin as a treasury asset while generating revenue through operational activities in the Bitcoin ecosystem. Its shares are noted for trading at a premium to net asset value.
The company's primary revenue-generating activity is operating Lightning Network nodes — a second-layer Bitcoin protocol that channels payments through interconnected nodes — earning fees for routing transactions and providing inbound liquidity to other node operators. Bitcoin is held under a multisignature self-custody protocol with publicly verifiable proof of reserves, enabling direct on-chain confirmation of treasury holdings. Capital is raised through At-The-Market (ATM) share programmes and deployed into Bitcoin accumulation; the company also runs share buybacks when its market price trades at a discount to NAV, exploiting the spread to enhance Bitcoin-per-share accretion.
B HODL is led by a British management team with backgrounds at CoinCorner, Baillie Gifford, Freshfields, Ropes & Gray, Curve, and Bitcoin Policy UK. Strategic investors include Adam Back (CEO of Blockstream), Bitcoin Archive, Joe Nakamoto, Jordan Walker and Jeremy Casey of Bitcoin Collective, David Parkison (Musqet), and Robin Thatcher. The company also operates a UK Bitcoin Ecosystem Grant Programme, committing up to 1% of capital raised and future fund returns to UK-based Bitcoin initiatives such as Brink.
B HODL firmographics
Firmographics- Name
- B HODL
- Legal name
- B Hodl Plc
- Website
- https://bhodl.com
- Company type
- Public
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- B HODL is a publicly listed Bitcoin treasury company operating Lightning Network nodes to generate transaction fee revenue while accumulating Bitcoin as a treasury asset, serving UK and global investors seeking professionally managed Bitcoin exposure through equity markets.
- Ownership category
- akta.pro rank
B HODL industry classification
Industry- Product category
- Digital Asset Treasury Management
- NAICS
- All Other Financial Investment Activities (52399)
- SIC
- Finance Services (6199)
- akta.pro primary industry
- Treasury Management & Corporate Crypto Yield Programs (FSADAHAL)
- akta.pro secondary industry
- On-Chain Payments & Stablecoin Infrastructure (Issuance, Rails, Treasury) (FSAGAMAD)
Keywords
Where B HODL is headquartered
LocationHeadquarters
- HQ city
- Douglas
Offices1 record
Markets served
B HODL business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Operations, Personnel, Technology or R&D, Marketing or Sales, Infrastructure
Revenue model
- Lightning Network Transaction Fees: B HODL operates Lightning Network nodes that earn fees for routing Bitcoin transactions, creating scalable and innovative revenue from transaction fee income. This is the company's first line of business for generating low-risk, sustainable revenue.
- Bitcoin Yield Generation: The company generates Bitcoin-denominated yield through its operational Lightning Network activities, with active yield recorded regularly (e.g., 0.099 BTC yield on March 13, 2026).
- Share Buyback Programme: B HODL executes share buybacks when shares trade at a discount to NAV, generating additional Bitcoin-per-share accretion. The company repurchased 60,000 ordinary shares at a volume-weighted average price of 4.83 pence, exploiting approximately £646,000 discount between market cap and underlying Bitcoin holdings.
- ATM Programme: At-The-Market share issuance programme allowing the company to issue shares into the market when conditions are favorable, raising capital for Bitcoin deployment. The company launched its first ATM programme in February 2026, completed initial tranche in March, and immediately followed with further offerings.
Go-to-market motion1 record
Distribution channels2 records
Marketing channels6 records
B HODL product offering
Product offeringCore offering
B HODL acquires, accumulates, and manages Bitcoin as a treasury asset, while operating Lightning Network nodes that generate fee revenue by routing Bitcoin transactions and providing inbound liquidity to other Lightning node operators. The company holds Bitcoin in a multisignature self-custody protocol with publicly verifiable proof of reserves, deploys capital through an At-The-Market (ATM) share issuance programme, and executes share buybacks at discounts to NAV to compound Bitcoin per share.
Product overview
B HODL is a Bitcoin Treasury 2.0 company operating Lightning Network nodes as its primary revenue-generating activity. The company acquires and accumulates Bitcoin through direct purchases and deploys capital into Lightning Network infrastructure to generate transaction fee income. Its core business model centres on operating Lightning nodes for routing Bitcoin transactions and providing inbound liquidity, while maintaining a Bitcoin treasury under a multisignature self-custody protocol. The company also operates an At-The-Market (ATM) programme for capital access and a UK Bitcoin Ecosystem Grant Programme supporting open-source Bitcoin development. Bitcoin holdings are verified through published proof of reserves.
Differentiator
Problem solved
Functional benefit
Products and services
- Lightning Network Node Operations Operation of Lightning Network nodes that generate revenue by charging fees for routing Bitcoin transactions and providing inbound liquidity to other Lightning node operators. This is B HODL's first line of business and the foundation of its low-risk, sustainable revenue model.
- Bitcoin Treasury Management Acquisition, accumulation, and management of Bitcoin as a treasury asset under a self-custody multisignature protocol with on-chain proof of reserves. Includes capital deployment through an At-The-Market (ATM) share programme and opportunistic share buybacks at discounts to NAV to compound Bitcoin per share.
Quantifiable outcome
- 24% more Bitcoin-per-share accretion through share buyback programme exploiting £646,000 discount to NAV
- +2 more outcomes
Companies that use B HODL
Customer profileSegments1 record
Ideal customer profiles1 record
B HODL technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
B HODL partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered minor.
- BrinkminorUK-based Bitcoin development organization. B HODL became the first UK Bitcoin Ecosystem Grant awardee. B HODL also intends to allocate up to 1% of capital raised and future fund returns to UK-based Bitcoin initiatives including Brink, to advance Bitcoin education, policy and technical development in the UK.
- CoinCornerminorBitcoin services company whose team members serve as editors and writers for the B HODL Blog. The CoinCorner team (including Danny Scott as Co-Founder & CEO) contributes content and expertise to B HODL's communications.
Scale indicators5 records
Recent moves8 records
Expansion highlights4 records
B HODL competitors and assessment
Company assessmentEmerging players
- Blockstream: Blockstream is a leading Bitcoin infrastructure company whose CEO Adam Back is a strategic investor in B HODL. Blockstream develops Liquid (a Bitcoin sidechain) and Lightning infrastructure, and is directly comparable to B HODL as a Bitcoin-native infrastructure operator with treasury exposure.
- Swan Bitcoin: Swan Bitcoin is a US-based Bitcoin-focused financial services company offering custody, treasury, and Lightning Network services to individuals and businesses. It is comparable to B HODL as a Bitcoin-native financial services platform, though operating as a private company rather than a listed treasury vehicle.
- Bitcoin Suisse: Bitcoin Suisse is a Swiss-regulated crypto financial services provider offering brokerage, custody, staking and lending. It is comparable to B HODL in offering institutional-grade Bitcoin financial services with a regulated European footprint, though at much larger scale.
- CoinCorner: CoinCorner is an Isle of Man-based Bitcoin exchange and Lightning payments company whose founders (Danny Scott, Zakk Lakin) are key executives at B HODL. It is the most operationally comparable peer given shared Lightning Network focus, jurisdiction, and team overlap.
Direct peers
- Coinsilium: Coinsilium is a UK-listed blockchain and crypto investment company quoted on Aquis, focused on early-stage crypto ventures. It is the closest UK-listed comparator to B HODL in terms of venue (Aquis), jurisdiction (UK), and crypto-native treasury/operational focus.
- Marathon Digital Holdings: Marathon Digital is a publicly traded Bitcoin mining and treasury company that combines BTC accumulation with operational infrastructure (mining) to generate yield — analogous to B HODL's combination of treasury accumulation with Lightning Network yield generation.
- Semler Scientific: Semler Scientific is a smaller US-listed public company that adopted a Bitcoin treasury strategy, using equity raises to accumulate BTC and trading at varying premiums/discounts to NAV. It is the closest comparable in scale and structure to B HODL among US-listed BTC treasury peers.
- MicroStrategy: MicroStrategy is the largest publicly traded corporate Bitcoin treasury company, holding tens of billions of dollars of BTC and using capital markets programmes (including ATM equity issuance and convertible debt) to fund further accumulation. B HODL replicates the same model at a far smaller scale, making it the canonical direct peer for benchmarking treasury strategy, premium-to-NAV dynamics, and ATM execution.
- Riot Platforms: Riot Platforms is a US-listed Bitcoin mining and treasury company with significant BTC holdings, offering a comparable template of using operational infrastructure to complement a corporate Bitcoin balance sheet, similar in concept to B HODL's Lightning-driven yield.
Broad incumbents
- Block Inc. Block (formerly Square) is a large-cap public company with significant Bitcoin holdings on its balance sheet and operational Bitcoin products (Cash App, Bitkey). It is comparable as a broader-incumbent publicly listed company with corporate Bitcoin treasury exposure and Bitcoin-native operational revenue streams.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks2 records
Key highlights7 records
Customer concentration
B HODL social profiles
Digital presenceB HODL financial estimates
Financial estimateRevenue estimate
Valuation estimate
B HODL leadership team
Management profileNumber of profiles
Profiles7 records
B HODL funding detail
Funding detailFunding overview
Funding rounds1 record
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
B HODL M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about B HODL
What does B HODL do?
B HODL acquires, accumulates, and manages Bitcoin as a treasury asset, while operating Lightning Network nodes that generate fee revenue by routing Bitcoin transactions and providing inbound liquidity to other Lightning node operators. The company holds Bitcoin in a multisignature self-custody protocol with publicly verifiable proof of reserves, deploys capital through an At-The-Market (ATM) share issuance programme, and executes share buybacks at discounts to NAV to compound Bitcoin per share.
Is B HODL a public or private company?
B HODL is a public company. It is classified as public and is currently operating.
When was B HODL founded?
B HODL was founded in -1. It employs 1 to 10 people.
Where is B HODL based?
B HODL is headquartered in Douglas.
How does B HODL make money?
Four revenue lines are on record. Lightning Network Transaction Fees are the primary driver. The others are bitcoin Yield Generation, share Buyback Programme and ATM Programme.
Who are B HODL's main competitors?
Emerging players on record are Blockstream, Swan Bitcoin, Bitcoin Suisse and CoinCorner. Direct peers are Coinsilium, Marathon Digital Holdings, Semler Scientific, MicroStrategy and Riot Platforms. Block Inc. is listed as a broad incumbent.
Does B HODL have an API?
No public API is recorded for B HODL.
What industry is B HODL in?
B HODL's product category is Digital Asset Treasury Management. Its primary akta.pro industry code is FSADAHAL, Treasury Management & Corporate Crypto Yield Programs, with a secondary code of FSAGAMAD, On-Chain Payments & Stablecoin Infrastructure (Issuance, Rails, Treasury). Its NAICS code is 52399 and its SIC code is 6199.