OranjeBTC (OBTC3) repurchased 1,606,700 common shares (ON) between October 26 and November 2, 2026, at an average price of R$ 6.8033 per share. The net balance of trades in the period was R$ 10,930,905.60 (cash outflow). According to the company, the buyback program accelerated because the mNAV (the ratio between the company's market value and the value of its Bitcoin reserves) of OBTC3 remained consistently below 0.70x, a discount the company believes does not reflect the strength of its balance sheet.
The week's repurchases were more than four times the 350,000 shares repurchased the previous week. There were no share sales in the period, and the company did not acquire Bitcoin. After the transactions, there are 138,452,880 ON shares issued outside treasury. Debt remains close to 15% of the market value of the Bitcoin reserves, even after the recent buybacks and the drop in the price of Bitcoin.
The company ended the period with 3,950 BTC in reserves, equivalent to 2,853 satoshis per share (a fraction of a Bitcoin) or 35,051 shares per Bitcoin. Bitcoin per share increased 1.16% during the week. The gross Bitcoin yield was 2.06% in 4Q26, 24.53% in 2026 and 27.51% cumulatively.
OranjeBTC says it will continue to act opportunistically and that further repurchases will depend on market conditions. The company says this may include, when economically justifiable, the selective sale of part of its Bitcoin reserves to fund additional buybacks, while preserving debt management.
The company said it does not hold custody accounts or reserves on any of the platforms affected by reports of a cyberattack on Binance. Its reserves are held in cold storage (offline storage), diversified across custodians and jurisdictions. On November 5, the company will hold Oranje Summit 2026 in São Paulo.
