Bitcoin Treasury Corporation (TSXV: BTCT | OTCQB: BTCFF) has released its August update on its Normal Course Issuer Bid, confirming the repurchase and retirement of 115,200 common shares during the month. The company reports that its Bitcoin per Share metric has grown 1.16% year-to-date to 0.00006418, a figure management views as a core measure of shareholder value. With total Bitcoin holdings now at 737.71 BTC and shares outstanding reduced to 9,411,280, investors may be watching closely to see how the NCIB continues to influence the company's capital structure.

Key Points

  • Bitcoin Treasury Corporation (TSXV: BTCT | OTCQB: BTCFF) is a Canadian Bitcoin-native company focused on institutional-grade Bitcoin services.
  • The company purchased and retired 115,200 common shares in August 2026 at an average price of $3.15 per share under its previously disclosed NCIB.
  • Bitcoin per Share grew 1.16% year-to-date to 0.00006418; total BTC holdings stand at 737.71 BTC as of August 31, 2026.
  • Investors may be watching how income from the company's Bitcoin lending business and Bitcoin Price Risk Management Program supports ongoing repurchases.

August NCIB Activity and Share Count Reduction at Bitcoin Treasury

Between August 1 and August 31, 2026, Bitcoin Treasury Corporation purchased and retired 115,200 common shares under its Normal Course Issuer Bid, originally disclosed on January 5, 2026. The average purchase price was $3.15 per share. As of August 31, 2026, the company had 9,411,280 common shares outstanding and 11,494,613 diluted common shares outstanding. The NCIB permits repurchases of up to 989,228 common shares, representing approximately 10% of the company's public float as defined by the TSX Venture Exchange.

Bitcoin per Share Growth as a Core Shareholder Value Metric

The company frames each month of share repurchases as a direct contributor to its Bitcoin per Share growth. Year-to-date, BPS has increased 1.16% to 0.00006418, calculated as BTC holdings divided by diluted shares outstanding, which include convertible debentures but exclude performance warrants. The release states that total Bitcoin holdings have decreased to 737.71 BTC year-to-date — a figure that includes the principal amount of Bitcoin loaned but excludes accrued and unpaid interest — while BPS has still expanded, reflecting the reduction in diluted share count.

Bitcoin Lending Operations Expected to Fund Continued Repurchases

The announcement states that as Bitcoin Treasury scales its Bitcoin lending business and Bitcoin Price Risk Management Program, income generated from operating activities is expected to support further share repurchases. Management has indicated it intends to use the NCIB when it believes the common shares are trading at a price range that does not adequately reflect the company's underlying value. The immediate share price impact of this announcement was not clear from available public information.