The Blockchain Group, a France-based technology firm specializing in data intelligence and decentralized systems, has acquired 580 Bitcoin worth approximately $50.64 million, according to a March 26 announcement.
The purchase was completed by its fully owned subsidiary, The Blockchain Group Luxembourg SA, using proceeds from a previously issued convertible bond. This brings the company’s total holdings to 620 Bitcoin, valued at $50.5 million.
The acquisition marks the third and largest Bitcoin buy by the firm since launching its Bitcoin Treasury Company strategy in November 2024. Its first purchase coincided with the U.S. presidential election and Bitcoin’s subsequent rally. The company’s stock has climbed 225 percent since the initial acquisition, now trading at $0.52.
The March 26 transaction was executed by Swissquote Bank Europe SA, a virtual asset service provider registered in Luxembourg, with secure custody managed by Swiss fintech firm Taurus. At a unit price of roughly $87,311 per Bitcoin, the purchase underscores the group’s commitment to expanding its digital asset reserves ahead of the first anniversary of Bitcoin’s halving event on April 20.
New Performance Metrics Linked to Bitcoin Strategy
The Blockchain Group has introduced three Bitcoin-centric performance metrics: ‘BTC Yield,’ ‘BTC Gain,’ and ‘BTC € Gain.’ These Key Performance Indicators (KPIs) are tailored to reflect the company’s approach to equity-financed Bitcoin acquisition.
As of March 26, the company reported a BTC Yield of 709.8 percent year-to-date. This metric represents the change in Bitcoin holdings relative to the number of fully diluted shares outstanding. With 620 Bitcoin against 186.4 million diluted shares, the firm now holds 332 satoshis per share, up from 41 in December.
‘BTC Gain,’ calculated as the hypothetical increase in Bitcoin if the BTC Yield were applied to the firm’s initial holdings, reached 283.9 BTC. Multiplied by the acquisition cost of the most recent buy, this results in a ‘BTC € Gain’ of $25.2 million.
The company emphasized that these KPIs are not traditional financial performance indicators. They do not account for liabilities or measure income or operational return. Instead, they are intended as internal benchmarks to assess Bitcoin per-share growth.
Stock Momentum Tracks Bitcoin Pivot
The firm’s share price has surged in parallel with its Bitcoin strategy. Since the first acquisition of 15 BTC on November 5—aligned with former President Donald Trump’s election victory and a rapid Bitcoin rally—The Blockchain Group has steadily increased its exposure. A second acquisition of 25 BTC followed on December 4, during another Bitcoin rally.
The timing of the latest buy, five days before the close of Q1 2025, comes during a period of slower Bitcoin performance compared to previous first quarters. Still, the group’s Bitcoin holdings and related indicators have continued to grow, drawing investor attention amid anticipation for future crypto-driven moves.
