Blockchain Group Boosts Bitcoin Holdings by 624 BTC for $68.6 Million

Blockchain Group, a Paris-listed company, has significantly expanded its Bitcoin holdings with the acquisition of 624 BTC for approximately $68.6 million. This purchase brings the company's total Bitcoin holdings to 1,437 BTC, valued at around $150.37 million. The acquisition was funded through a $63 million convertible bond issued to Fulgur Ventures and an additional $9.8 million raised in late May.

The transaction was facilitated by Banque Delubac & Cie and Swissquote Bank Europe, with secure custody managed by the Swiss firm Taurus. This latest acquisition is part of a broader strategy by Blockchain Group to become a major institutional holder of Bitcoin. The company has been steadily increasing its Bitcoin holdings since late 2024, with previous purchases including 580 BTC in March and 227 BTC in May.

The firm's Bitcoin investment strategy began modestly in November 2024 with the purchase of 15 BTC for $1.08 million, followed by an additional 25 BTC in December. Each subsequent purchase has seen the group's average cost basis increase, reflecting a calculated scaling approach aligned with its long-term treasury vision. The most recent purchase of 624 BTC marks the company's largest single-day acquisition to date.

Blockchain Group's aggressive treasury approach is supported by its broader financial strategy, which includes a $9.8 million capital raise earlier this year to strengthen liquidity and scale up operations. The company aims to increase its Bitcoin holdings per share through targeted capital raises and crypto acquisitions, reinforcing its long-term commitment to Bitcoin as a core treasury asset. As of May 31, the group reported an unrealized gain of $47.88 million on its Bitcoin reserves, highlighting the significant appreciation in the value of its holdings since acquisition.