The board of directors of Spanish coffee chain Vanadi Coffee has approved a proposal to invest 1 billion euros (more than $1,1 billion) in bitcoin (BTC).
Since its inception in 2021, the coffee shop chain has included six locations, which also included a bakery. By the end of 2025, the company intends to open three more coffee shops, increasing the total number to 3 by 2026.
Last year, Vanadi recorded losses of more than 3,3 million euros ($3,7 million), up 15% from 2023. At the same time, revenue for 2024 remained stable at 2 million euros ($2,28 million).
Vanadi launched its initial public offering (IPO) with a starting price of €3,28 ($3,74) per share and a market cap of €20 million ($22,8 million). VANA shares have fallen 99% over the past two years and are currently trading at around €0,33 ($0,38), according to TradingView.
In addition to Vanadi’s poor share price performance, the coffee chain does not expect to turn a profit until 2027, when it could achieve gross operating profit of at least €23.
Investments in Bitcoin can change the situation, and the first results are already visible: since the news of the BTC purchase, the price of VANA shares has increased by 15%.
