The Blockchain Group announces 1,097.6% Bitcoin yield 

Source Cryptopolitan

The Blockchain Group announced the acquisition of 624 BTC worth $68.8 million, bringing its total holdings to 1,471 BTC. The Group issued a convertible bond in May, enabling it to acquire $63.2 worth of BTC. The Blockchain Group also raised about $7.77 million using a private placement strategy.

The Blockchain Group, a Bitcoin Treasury Company, announced on June 3 that it has completed the acquisition of Bitcoin worth nearly $70 million. The acquisition followed two major financing operations executed by the company in May. The Group raised $63.2 million by issuing a convertible bond on May 26. The company also raised $7.77 million using a private placement method, enabling it to buy 80 BTC. The Group also revealed the subsidiaries that executed the transactions.

The Blockchain Group announces 1,097.6% Bitcoin yield 

The Blockchain Group announced that Banque Delubac & Cie, a digital asset service provider (DASP) registered with France’s financial markets regulator, carried out the acquisition of additional Bitcoin. The blockchain firm said the Banque Delubac & Cie utilized funds raised by the firm in May. The Group added that the DASP was also responsible for the secure custody of the BTC using the infrastructure of Taurus, a Swiss firm. 

The Bitcoin Treasury Company also announced the involvement of the Swissquote Bank Europe SA, a company regulated by the Luxembourg regulator. The Group explained that Swissquote Bank Europe SA also executed the purchase of the additional BTC with the proceeds from bond issuance. 

ALTBG revealed that the company has achieved a Bitcoin yield of 1,097.6% year-to-date. The firm added that it has achieved a BTC gain of 439 BTC. The Group also said it achieved a BTC value gain of over $48.3 million since the beginning of the year.  

The Bitcoin Treasury firm said it held a total of 1,471 BTC together with its subsidiary, the Blockchain Group Luxembourg SA. The Group revealed that the acquisition value of its total BTC reserves was approximately $150.7 million. The firm clarified that its total BTC reserve value was based on the average price of $102,473 per BTC. The Group stated that acquiring the additional BTC reinforced its Bitcoin accumulation approach. The company also said it will continue to support the operational activities of its subsidiaries. 

The Blockchain Group issues a new bond

The Blockchain Group recently announced the issuance of a new bond worth $72 million. The company said the proceeds from the new bond will be used to acquire additional BTC. The Bitcoin Treasury firm explained that the bond issuance would be executed through its Luxembourg business unit. The firm added that the bond will be redeemable for company shares at the cost of $4.35 per share. 

The Group revealed that the initial realized amount of the reserved bond was $5.99 million. The company also reiterated that the bonds have a maturity period of five years. The Blockchain Group said the bonds may be convertible into ordinary company shares, clarifying that the conversion would rely on market performance. 

The firm clarified that it would consider converting the bonds into ordinary shares if the price of its shares hit $5.64. The Group explained that it had set the conditions for converting the bond into shares to avoid the key risk associated with declining share prices. The company also added the unknown risk for BTC as another reason it had set the condition. 

Blockchain Group revealed the realization of $66.36 million of a convertible bond. The firm added that this portion of the reserved convertible bond could be converted into ordinary shares at the cost of $0.80 per share. The Group also revealed it had converted Adam Back’s holdings at the price of $0.62 per share.

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