French tech agency completes acquisition of 624 BTC by means of €60.2 million capital increase and bond issuance. The corporate experiences 1,097.6% BTC Yield year-to-date as European companies to speed up Bitcoin treasury adoption.
The Blockchain Group, Europe’s first Bitcoin Treasury Firm, has acquired 624 Bitcoin for roughly €60.2 million ($69 million), marking a major enlargement of its Bitcoin holdings by means of a mixture of fairness gross sales and convertible bonds.
In response to a press launch issued June 3, the Euronext Progress Paris-listed firm accomplished the acquisition in two tranches: 80 BTC acquired for €7.7 million by means of a capital enhance, and 544 BTC for €52.5 million by way of convertible bonds subscribed by Fulgur Ventures.
The acquisitions convey the corporate’s whole Bitcoin holdings to 1,471 BTC, bought at a mean value of €89,687 ($103,000) per coin. The Group has achieved a “BTC Yield” – measuring the change in Bitcoin holdings relative to totally diluted shares – of 1,097.6% year-to-date.
The acquisition was executed by means of Banque Delubac & Cie and Swissquote Financial institution Europe SA, with custody offered by Swiss infrastructure agency Taurus. The corporate indicated plans to accumulate a further 60 BTC by means of ongoing convertible bond issuances from UTXO Administration and Moonlight Capital.
The Group’s newest acquisition was funded by means of a €8.6 million capital enhance, with participation from buyers together with TOBAM Bitcoin Treasury Alternatives Fund and Quadrille Capital, alongside a €55.3 million convertible bond issuance to Fulgur Ventures.
The corporate reported a BTC Achieve of 439 BTC year-to-date and a BTC € Achieve of roughly €42.3 million, highlighting the rising pattern of European companies diversifying treasury property into Bitcoin.
At press time, Bitcoin trades at €92,349 ($105,260), as institutional adoption continues to reshape company treasury administration throughout Europe and globally.