- The Blockchain Group completes the purchase of 580 Bitcoin worth €47.3 million.
- The company has introduced specialized KPIs to track Bitcoin-per-share performance.
- Total BTC reach 620 as the firm position itself as EU’s first BTC Treasury Company.
The Blockchain Group (ALTBG), a European company self-described as the continent’s first Bitcoin Treasury Company, has announced the completion of a major Bitcoin acquisition. In a press release, the firm confirmed the purchase of 580 BTC for approximately €47.3 million. The purchase was made at an average price of €81,550 per Bitcoin.
This substantial acquisition was conducted through the company’s wholly-owned subsidiary, The Blockchain Group Luxembourg SA. It was funded by proceeds from a convertible bond issuance announced earlier this month on March 6. The transaction increases the group’s total Bitcoin holdings to 620 BTC. This is valued at approximately €50.5 million with an average acquisition cost of €81,480 per Bitcoin.
The Blockchain Group has simultaneously introduced specialized performance metrics to track its Bitcoin treasury strategy. It has adopted a framework similar to those used by comparable companies Strategy in the USA and Metaplanet in Japan. The newly implemented key performance indicators (KPIs) include ‘BTC Yield’, ‘BTC Gain’, and ‘BTC € Gain’.
According to the company’s calculations, it has achieved a ‘BTC Yield’ of 709.8% year-to-date. This metric shows the percentage change in the ratio of total Bitcoin holdings to fully diluted shares outstanding over a given period. The firm reports a ‘BTC Gain’ of 283.9 BTC YTD and a ‘BTC € Gain’ of approximately €23.2 million during the same period.
The company emphasized that these specialized metrics are designed specifically to track its Bitcoin treasury strategy and should not be confused with traditional financial performance measures. In its disclosure, The Blockchain Group noted: “These indicators, whose precise purpose is set out below, are not equivalent to either ‘return’ or ‘gain’ in the traditional financial context.
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The acquisition marks an acceleration of the strategy initially launched in November 2024, when the company held just 15 Bitcoins. By December 4, 2024, holdings had increased to 40 BTC, before the latest major expansion to 620 BTC. Technical details in the release indicate the group has greatly increased the “BTC (sats) per Fully Diluted Share” from 17 to 332 satoshis since the strategy began.
The purchase was executed by Swissquote Bank Europe SA, a regulated virtual asset service provider in Luxembourg. While highlighting the progress of its Bitcoin treasury strategy, The Blockchain Group also acknowledged various risks associated with this approach. This includes Bitcoin’s price volatility, liquidity challenges, regulatory and tax uncertainties, and operational security concerns.
