Canadian Bitcoin ecosystem company Matador Technologies (MATA.V) has announced the launch of an at-the-market (ATM) program aiming to raise C$30 million ($22 million) through stock issuance. This will provide a flexible mechanism for the digital asset treasury to raise capital and support its efforts to build a bitcoin reserve.
It plans to use the proceeds primarily to acquire the alpha cryptocurrency as part of a broader investment strategy, setting a 1,000 BTC treasury target by the end of 2026, while also funding its investment in the Indian digital asset treasury firm HODL, repaying debt, and covering general working capital.
Matador Launches C$30M Equity Program to Fund Bitcoin, Investments, Debt
Matador operates at the intersection of precious metals and blockchain technology, leveraging the Bitcoin network to digitize real-world assets like gold. It combines strategic BTC purchases, Bitcoin-native product development, and participation in digital asset infrastructure to drive long-term shareholder value while maintaining capital efficiency.
The DAT has reached an Equity Distribution Agreement with ATB Cormark Capital Markets on the ATM program. This facility allows Matador to issue and sell shares directly into the open market at prevailing prices, offering the flexibility to raise capital without a fixed size or timeline. The company emphasized that this approach enhances its ability to convert fiat currency into bitcoin quickly and improve its operational efficiency as it scales its digital asset holdings, further strengthening its market position.
Matador noted in the official announcement that sales under the ATM are discretionary, meaning the company retains full control over timing and volume of issuance, enabling it to deploy capital strategically during favorable market conditions, particularly during downtrends for bitcoin. The facility is backed by a prospectus supplement and the company’s short-form base shelf prospectus filings.
The move follows earlier milestones, including the closing of a $10.5 million draw under a $100 million convertible note facility in November 2025 and final approval from the TSX Venture Exchange in July 2025 to rebrand Matador as a hybrid technology and investment firm focused on the Bitcoin ecosystem.
Matador Enters India With $3.2M HODL Systems Investment
In May 2025, the Toronto-based DAT entered a binding letter of intent to invest up to $3.2 million in HODL Systems, a publicly listed Indian company integrating crypto assets into its treasury strategy. If fully exercised, the deal would give Matador up to a 24.95% ownership stake in the New Delhi-based firm.
The deal will see HOLD Systems license and distribute Matador’s blockchain-based digital gold and Ordinals products in India – one of the world’s most gold-obsessed and mobile-savvy economies. According to the World Gold Council data, Indian households hold over 25,000 tonnes of gold, while more than 65% of the population is under 35, presenting a large potential user base for digital investment platforms.
Bitcoin maximalist and Matador’s chief visionary officer Mark Moss said the partnership reflects a belief that the next wave of global financial infrastructure will be built on digital assets. Once completed, the move would not just mark the company’s official entry into India, but also position it to capitalize on one of the largest untapped markets for crypto-backed financial products and services.
Matador’s leadership, including CEO Deven Soni, President Sunny Ray, and Advisor Mark Moss, continues to drive a strategy centered on bitcoin treasury growth, infrastructure investment, and global expansion – positioning the company as a public-facing player in the ever-evolving Bitcoin economy.
At the time of writing, Bitcoin (BTC) is trading at $76,465 – down 2.02% in 24 hours.
