Blockchain Group reported the acquisition of 182 bitcoins for approximately €17 million, increasing its total holdings to 1,653 BTC.
Growth Strategy and Financial Performance
The bitcoin acquisition is part of a broader growth strategy. This year, the company has delivered outstanding performance, achieving a year-to-date BTC Yield of 1,173.2%, equivalent to a gain of 469.3 BTC and €43.77 million. On a quarter-to-date basis, the yield reached 57.2%, adding 354.8 BTC and €33.1 million.
Financing Transactions and Capital Structure
To finance these acquisitions, Blockchain Group utilized a mix of convertible bond issuances and warrant conversions. Early in the year, the company raised €3 million through bonds, securing 31 BTC, and €4.6 million from Moonlight Capital for 48 BTC. Furthermore, there were successful raises of €2.4 million and €6 million from other investors. Transactions were executed by Banque Delubac & Cie and Swissquote Bank Europe SA, with custody provided by Taurus.
Future Plans of the Company
Looking ahead, the company expects to acquire approximately 70 more bitcoins, potentially raising total holdings to 1,723 BTC. This aligns with its ongoing capital increase program with TOBAM, which recently brought in €7.2 million aimed at further expanding bitcoin holdings.
Thus, Blockchain Group continues to actively enhance its bitcoin holdings, relying on successful market strategies and planning further acquisitions.
