Vanadi Coffee faces board dispute over Bitcoin fees
- Vanadi Coffee's major shareholder has called for a board overhaul over fees linked to Bitcoin financing transactions.
- The dispute centres on board commissions of up to 5% tied to funding Bitcoin purchases, raising shareholder governance concerns.
- The company continues pursuing its Bitcoin treasury strategy despite its shares falling more than 97% over the past year.
Vanadi Coffee is facing a shareholder dispute after Vallecid, which owns nearly 10% of the company, sought to replace the board and review fees paid to directors on financing used to acquire Bitcoin (CRYPTO:BTC).
Vallecid argued that commissions paid on Bitcoin financing transactions diluted shareholder value, while the company continues executing its approved strategy to expand its Bitcoin treasury.
“The examination, detailed clarification, and specific rendering of accounts by the Board of Directors regarding all forms of remuneration, extraordinary commissions, and advances,” Vallecid requested in its petition, according to El Economista.
Reports said chairman Salvador Martí receives a 1.5% endorsement fee and a 2% management fee on financing transactions from key lenders, while another director reportedly receives commissions of up to 5%, and Vallecid is also seeking to invalidate the approvals that authorised those payments.
The company has accumulated 223 BTC at an average purchase price of US$116,340 per Bitcoin after investing more than US$11.5 million, while Vanadi's shares have declined by more than 97% over the past year following its Bitcoin treasury pivot.
Vanadi adopted its Bitcoin treasury strategy in 2025 while continuing to operate its coffee franchise business, with the move initially lifting the company's share price.
Vallecid has also indicated it may pursue legal action to recover disputed payments as the governance dispute adds further scrutiny to Vanadi's financing structure and long-term Bitcoin acquisition strategy.
At the time of reporting, Bitcoin price was $62,958.23.
