ProCap Financial, a Nasdaq-listed U.S. Bitcoin-focused financial company, sold about 50 Bitcoin to repurchase about 2% of its outstanding shares at an approximate 40% discount to net asset value (NAV), which measures assets minus liabilities per share. Including the latest transaction, cumulative buybacks since the program began equal about 10% of shares outstanding. As of the Sept. 2 market close, the company held about 5,305 Bitcoin, had 86,764,282 shares outstanding and reported NAV of about $3.71 per share. ProCap Financial has said it will continue evaluating repurchases when its stock trades at a substantial discount to NAV.