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The Blockchain Group, a prominent player in Europe’s cryptocurrency landscape, has bolstered its Bitcoin treasury with a significant acquisition of 580 BTC.

The firm, which touts itself as Europe’s first Bitcoin treasury company, revealed the purchase in a press release, noting it now holds 620 BTC.

Given the earlier two Bitcoin buys, the €47.3 million (around $51 million) scoop amid crypto market’s struggles marks the company’s largest single purchase so far.

Swissquote Bank Europe SA, a company registered as a virtual asset service provider in Luxembourg executed the purchase.

Meanwhile, Swiss-based digital assets infrastructure platform Taurus is the custody provider.

According to the announcement, The Blockchain Group added to its BTC holdings via its subsidiary, The Blockchain Group Luxembourg SA.

The company acquired the digital asset at the average purchase price of 81,550 euros (approximately $87,874) per bitcoin. 

Like several other companies looking to tap into Bitcoin as a treasury asset, The Blockchain Group used proceeds of a convertible bond issuance to buy the bitcoin.

This company had announced the convertible bond on March 6, 2025.

Last year, the data intelligence, AI, and blockchain technology consulting firm purchased its first Bitcoin.

It completed the first acquisition of 15 BTC in November 2024 at the average price of €63,729 per coin and then 25 BTC in at €90,511 per coin in December.

The company now holds 620 BTC acquired for €50.5 million (about  $54.5 million).

Having launched the Bitcoin strategy on November 5, 2024, the group has now achieved a BTC yield of approximately 709.8% year-to-date. 

Such yield far outpaces traditional market benchmarks like France’s CAC40 index, which rose just 7% over the same period.

The gains YTD in terms of euros currently stands at €23.2 million based on prevailing bitcoin market price.

According to The Blockchain Group, the latest acquisition of BTC is a continuation of the company’s long-term vision to integrate Bitcoin into its corporate treasury.

Strategy, Metaplanet, Tesla and recently GameStop have adopted a similar strategy.

The Blockchain Group’s fresh bet on Bitcoin comes at a time when Bitcoin’s price continues to experience notable volatility.

After plummeting to below $80k earlier this month, the top coin by market cap has recovered to near $89k before retreating again.

While investment products tied to BTC also witnessed huge outflows, there’s a bounce as price holds in the $80k-$90 range.

The top asset also remains largely appealing as the regulatory landscape and the US strategic Bitcoin reserve move takes shape.

At the time of writing, BTC changed hands at $87,071.

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