Vanadi Coffee, a Spanish coffee franchise that pivoted to a bitcoin treasury strategy, faces shareholder revolt over board member fees on bitcoin purchases. Vallecid, a Canarian conglomerate owning nearly 10% of Vanadi Coffee, demanded dissolution of the current board due to fees reaching up to 5% on bitcoin financing transactions, which Vallecid argues dilutes shareholders. The conflict centers on remuneration practices where board members, including founder Salvador Martí, collect percentage-based fees each time the company processes financing for bitcoin acquisitions. Vanadi's stock crashed 97% in a year following its bitcoin pivot, despite the company accumulating 223 BTC.
Board Members Charge Up to 5% Fees on Bitcoin Financing
Salvador Martí, founder of Vanadi Coffee and president of the board of directors, receives 1.5% for endorsing and 2% for managing each financing transaction from Patblasc and GCFO21, key financiers of the company's approved push to reach nearly $1.1 billion in bitcoin purchases. Another director receives fees that reach 5% in some cases, according to reports from El Economista.
The fee structure applies to financing transactions processed for bitcoin acquisitions. Patblasc and GCFO21 serve as key financiers for the company's bitcoin treasury strategy.
Vallecid Demands Board Dissolution and Threatens Legal Action
Vallecid proposed the "examination, detailed clarification, and specific rendering of accounts by the Board of Directors regarding all forms of remuneration, extraordinary commissions, and advances---whether in cash or in kind---received by the directors or by persons linked to them and to Vanadi," according to El Economista.
Vallecid is petitioning for nullification of approvals that allowed board members to collect these fees "without prejudice to any actions of nullity, voidability, unjust enrichment or liability that may arise." The language indicates possible legal actions against board members.
Stock Crashes 97% Despite 223 BTC Treasury Holdings
Vanadi Coffee's stock price rose after the company announced its hybrid bitcoin treasury and coffee franchise model. The stock has since tumbled, losing over 97% in a year.
The company currently holds 223 BTC at an average cost of $116,340 per bitcoin, having spent over $11.5 million to accumulate these digital assets. Vanadi pivoted to bitcoin while maintaining its coffee franchise business in 2025.
FAQ
What fees do Vanadi Coffee board members charge on bitcoin purchases?
Board members charge fees ranging from 1.5% to 5% on bitcoin financing transactions. Salvador Martí receives 1.5% for endorsing and 2% for managing each financing transaction, while another director receives fees reaching 5% in some cases.
How much bitcoin does Vanadi Coffee currently hold?
Vanadi Coffee holds 223 BTC at an average cost of $116,340 per bitcoin, having spent over $11.5 million to accumulate these digital assets.
What actions is Vallecid taking against Vanadi Coffee's board?
Vallecid demanded dissolution of the current board and is petitioning for nullification of approvals that allowed board members to collect fees, with language indicating possible legal actions for nullity, voidability, unjust enrichment or liability.
