The Blockchain Group, a Paris-listed tech firm, has purchased 182 Bitcoin (CRYPTO: BTC) for €17 million ($19.6 million), increasing its total holdings to 1,653 BTC, valued at approximately €148.9 million ($171.36 million).

The acquisition, funded through convertible bond issuances and share warrant conversions, reinforces the company's strategy as Europe's first Bitcoin Treasury Company.

The company, listed on Euronext Growth Paris under ticker ALTBG, detailed in a Wednesday press release that the purchase included €3 million from UTXO Management for 31 BTC, €4.6 million from Moonlight Capital for 48 BTC, €2.4 million from Ludovic Chechin-Laurans for 25 BTC, and €6 million from TOBAM for 62 BTC.

Additionally, the conversion of 2,980,092 shares from BSA 2025-01 warrants raised €1.6 million, enabling the acquisition of 16 BTC.

"The Company thus reinforces its Bitcoin accumulation strategy while continuing to develop the operational activities of its subsidiaries," the press release stated.

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The Blockchain Group reported a year-to-date BTC yield of 1,173.2%, a gain of 469.3 BTC and a value of €43.77 million.

The average acquisition cost per Bitcoin stands at €90,081.

The transactions were executed through Banque Delubac & Cie and Swissquote Bank Europe SA, with custody provided by Swiss-based Taurus.

This acquisition follows a €300 million "At-the-Market" share issuance program announced on June 9, 2025, with TOBAM, which aims to further expand Bitcoin reserves.

The company's strategy focuses on increasing Bitcoin per fully diluted share, aligning with a growing trend of corporate Bitcoin adoption in Europe.

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