French technology firm completes acquisition of 624 BTC through €60.2 million capital raise and bond issuance. The company reported 1,097.6% BTC yield year-to date, as European corporations accelerate Bitcoin treasury adoption.
The Blockchain Group, Europe’s first Bitcoin Treasury Company, has acquired 624 Bitcoin for approximately €60.2 million ($69 million), marking a significant expansion of its Bitcoin holdings through a combination of equity sales and convertible bonds.
According to a press release issued June 3, the Euronext Growth Paris-listed company completed the purchase in two tranches: 80 BTC acquired for €7.7 million through a capital increase, and 544 BTC for €52.5 million via convertible bonds subscribed by Fulgur Ventures.
The acquisitions bring the company’s total Bitcoin holdings to 1,471 BTC, purchased at an average price of €89,687 ($103,000) per coin. The Group achieved a “BTC Yield” – measuring the change in Bitcoin holdings relative to fully diluted shares – of 1,097.6% year-to-date.
The purchase was executed through Banque Delubac & Cie and Swissquote Bank Europe SA, with custody provided by Swiss infrastructure firm Taurus. The company plans to purchase an additional 60 BTC via ongoing convertible bonds from UTXO Management, Moonlight Capital and other financial institutions.
The Group’s latest acquisition was funded through a €8.6 million capital increase, with participation from investors including TOBAM Bitcoin Treasury Opportunities Fund and Quadrille Capital, alongside a €55.3 million convertible bond issuance to Fulgur Ventures.
The company reported a BTC Gain of 439 BTC year-to-date and a BTC € Gain of approximately €42.3 million, highlighting the growing trend of European corporations diversifying treasury assets into Bitcoin.
At press time, Bitcoin trades at €92,349 ($105,260), as institutional adoption continues to reshape corporate treasury management across Europe and globally.
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Source: bitcoinmagazine.com
