ProCap Financial Sells Bitcoin to Fund Share Repurchase Program

ProCap Financial has sold 50 Bitcoin to finance the repurchase of more than 2% of its outstanding shares. The transaction was executed at a discount of approximately 40% relative to the company's net asset value.

The firm, which trades on the Nasdaq under the ticker BRR, currently holds approximately 5,305 Bitcoin. By repurchasing shares at a discount, the company aims to increase the amount of Bitcoin backing each remaining share. The company notes that for every dollar spent on these buybacks, it effectively acquires $1.67 in Bitcoin exposure.

This strategy is part of a board-approved share repurchase program authorized in December 2025 with a budget of up to $100 million. Throughout 2026, the company has conducted buybacks at discounts ranging from 25% to 35%. A previous transaction on June 1, 2026, involved the sale of approximately 52 Bitcoin to repurchase 2 million shares at a discount of roughly 50%.

Following the most recent transaction, ProCap has 86,764,282 shares outstanding. As of the market close on September 2, 2026, the net asset value per share was approximately $3.71. The company's total Bitcoin holdings have fluctuated between approximately 5,000 and 5,457 Bitcoin during 2026.

ProCap Financial was founded by Anthony Pompliano and went public in 2025 via a SPAC merger. The company raised over $750 million to establish its Bitcoin treasury, consisting of $516.5 million in preferred equity and $235 million in convertible instruments. In addition to its treasury strategy, the firm operates an AI-based financial platform named Silvia.