Stack BTC Proposes $16 Million Acquisition of Gold Dealer to Boost Bitcoin Holdings

Stack BTC, a publicly listed company focused on accumulating Bitcoin, has announced plans to acquire Direct Bullion, a London-based precious metals dealer, for up to £12 million (approximately $16 million). The acquisition aims to leverage Direct Bullion's cash flow to enhance Stack BTC's Bitcoin purchases, as the gold dealer reported £2.15 million in post-tax profit for the fiscal year ending January 31, 2026, and generates annual revenues exceeding £52 million.

The acquisition structure involves three components: £3 million in cash from Stack's reserves, around £4 million in newly issued shares priced at a minimum of 6p each with a four-year lockup, and an earn-out component worth up to £5 million based on Direct Bullion meeting specific EBITDA targets. This earn-out structure provides Stack BTC with a safeguard against potential declines in the gold dealer's performance post-acquisition.

This transaction is classified as a related-party reverse takeover, as Paul Withers, a director at Stack BTC, controls Direct Bullion. This classification necessitates additional due diligence and regulatory approvals before the deal can be finalized. The involvement of Nigel Farage, a notable figure in UK politics and a Stack BTC investor, adds further attention to the acquisition, as he holds approximately 6.3% of the company following his investment in March 2026.

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Source: KLEA News