The Blockchain Group, a Paris-listed tech company recognized as Europe’s first Bitcoin treasury holder, has increased its Bitcoin position with a new purchase of 182 Bitcoin—valued at roughly $19.6 million. 

This brings the firm’s total Bitcoin holdings to 1,653 Bitcoin, now worth over $170 million at current market prices.

The acquisition, completed Tuesday, was funded via convertible bond issuances totaling nearly €18 million ($20.7 million). 

Notable backers in the bond round included UTXO Management, Moonlight Capital, TOBAM, and Ludovic Chechin-Laurans, each participating in different tranches of the offering.

Execution of the purchase was handled by Banque Delubac & Cie and Swissquote Bank Europe SA, with custody services provided by Swiss firm Taurus.

According to the company, its Bitcoin position has grown 1,173.2% year-to-date when measured by Bitcoin per fully diluted share. Since January, Blockchain Group has added 469 Bitcoin and recorded over $49 million in appreciation from its holdings. 

Its average purchase price stands near $103,000 per coin.

The company is also considering acquiring an additional 70 Bitcoin, which would push its reserves to around 1,723 Bitcoin.

Earlier in June, Blockchain Group disclosed a plan to raise up to €300 million ($342 million) via an “At the Market” offering. 

Shares will be issued in segments, priced either at the previous day’s close or volume-weighted average, and subject to a 21% daily volume limit.

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