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Blockchain Group Scoops Up 624 Bitcoin in $68M Transaction

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June 3, 2025
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Blockchain Group Scoops Up 624 Bitcoin in $68M Transaction
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Paris-listed Blockchain Group has stepped up its Bitcoin accumulation strategy, confirming a $68.6m acquisition of 624 BTC on Tuesday as it pushes to become a major institutional holder of the cryptocurrency.

Its latest purchase raises its total holdings to 1,437 BTC, currently valued at $150.37m.

The Blockchain Group funded most of its new Bitcoin purchase through a $63m convertible bond issued to Fulgur Ventures, enabling the acquisition of 544 BTC. It secured another 80 BTC using proceeds from a $9.8 million capital raise completed in late May.

The Blockchain Group confirms the acquisition of 624 BTC for ~€60.2 million, the holding of a total of 1,471 BTC, and a BTC Yield of 1,097.6% YTD

Full Press Release (EN): https://t.co/iZUEbRaDTZ
Full Press Release (FR): https://t.co/IgTddli8Hu
BTC Strategy (EN):… pic.twitter.com/0bQ9zaSRN3

— The Blockchain Group (@_ALTBG) June 3, 2025

The BTC was acquired through Banque Delubac & Cie and Swissquote Bank Europe, with both institutions relying on Swiss firm Taurus to manage secure custody.

Blockchain Group’s Bitcoin Strategy Accelerates After Initial Small-Scale Entries

The announcement comes just weeks after the firm shared plans to expand its crypto treasury. Since then, it has made several key purchases. These include 227 BTC on May 22 and 580 BTC on March 26. Earlier, the group made smaller acquisitions in November and December 2024.

The Bitcoin investment strategy began modestly. In Nov. 2024, the firm bought 15 BTC for $1.08m. The following month, it added 25 BTC. With each round of buying, the group’s average cost basis has steadily increased. This trend reflects a calculated scaling approach aligned with its long-term treasury vision. The most recent purchase of 624 BTC marks its largest single-day acquisition to date.

According to the company, the value of its Bitcoin reserves has appreciated significantly since acquisition. As of May 31, the group reported an unrealized gain of $47.88m.

Treasury Strategy Tied to Increasing Bitcoin Holdings Per Share

This aggressive treasury approach is supported by the firm’s broader financial strategy. Earlier this year, it completed a $9.8m capital raise to strengthen liquidity and scale up operations. The group said the combined moves help reinforce its long-term commitment to Bitcoin as a core treasury asset.

Further, it has outlined a long-term aim to increase Bitcoin per share through targeted capital raises and crypto acquisitions.

The post Blockchain Group Scoops Up 624 Bitcoin in $68M Transaction appeared first on Cryptonews.

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