France-based tech firm The Blockchain Group is doubling down on its Bitcoin treasury strategy.
In a recent statement, the company announced the completion of a €63.3 million (approximately $72 million) convertible bond issuance, with plans to use the proceeds to purchase an additional 590 BTC. If completed, this would bring the company's total holdings to over 1,400 BTC.
Earlier in March, the firm had already added 580 BTC to its reserves, significantly boosting its profile among Bitcoin-focused corporations. Since adopting this strategy, The Blockchain Group’s stock price has reportedly more than doubled. The company joins other notable players like Strategy, Metaplanet, and GameStop in embracing Bitcoin as a reserve asset. While expanding its Bitcoin holdings, The Blockchain Group also emphasized its commitment to improving the operational activities of its subsidiaries.
