French technology companies completed a 624 BTC acquisition through a capital raise of 66.2 million euros and bond issuance. With the adoption of European companies, the company reported a 1,097.6% BTC yield to accelerate the Bitcoin treasury.
The blockchain group is the first bitcoin treasury company in Europe, which acquired 624 bitcoins for around 60.2 million euros ($69 million), marking a significant expansion of its bitcoin holdings through a combination of stock sales and convertible bonds.
According to a press release released on June 3, EuroNext’s growth-listed company completed the purchase at a price of two shares: 80 BTC increased by 7.7 million euros through capital, while 544 BTC ordered convertible bonds at 52.5 million euros in Fulgur Ventures.
The acquisition raises the company’s total Bitcoin holdings to 1,471 BTC, with an average price of 89,687 euros ($103,000). The group has reached a “BTC yield” – a measure of changes in Bitcoin holdings relative to fully diluted stocks – 1,097.6% year to date.
The purchase is performed through Banque Delubac & Cie and Swissquote Bank Europe SA, which is custodianized by Swiss infrastructure company Taurus. The company said it plans to issue an additional 60 BTC through UTXO management and Moonlight Capital’s ongoing convertible bonds.
The group’s latest acquisition was through an increase of €8.6 million in capital, including investors including Tobam Bitcoin Treasury Opportunity Fund and Quadrille Capital, and a €55.3 million to Fulgur Ventures.
The company reported that BTC grew at 439 BTC year to date, with a growth rate of about €42.3 million, highlighting the growth trend of European companies diversifying fiscal assets into Bitcoin.
At press time, Bitcoin was trading at 92,349 euros ($105,260) as institutions adopted corporate fiscal management that continued to reshape corporate finance throughout Europe and around the world.
