European Bitcoin treasury firm The Blockchain Group confirmed its return to profitability whereas unveiling aggressive plans to develop its Bitcoin reserves over the approaching years.
The Paris-listed agency, which formally rebranded itself as Europe’s first “Bitcoin Treasury Firm ” in November 2024, recorded a web revenue of €1.36 million for 2024, reversing a €22.7 million loss from the prior 12 months.
European Bitcoin treasury firm rebrand
The outcome adopted deep restructuring efforts, together with divestitures and value reductions, which decreased normal and administrative bills by 43% and general workers prices by 34%, per its annual monetary report.
Whereas income fell 32% year-over-year to €13.86 million as a result of a narrower operational focus, non-recurring positive aspects and decrease working prices aided profitability. The shift coincided with a metamorphosis in company technique.
Starting in late 2024, the corporate initiated substantial Bitcoin purchases utilizing capital raised by way of fairness issuances and convertible bonds. The preliminary acquisitions, accomplished in November and December, totaled 40 BTC and have been funded through €3.5 million in capital will increase.
Momentum accelerated in early 2025. Following shareholder approval in February to extend capital elevating capability to over €300 million, the corporate issued €48.6 million in convertible bonds in March, in response to its disclosures.
The proceeds enabled the agency to accumulate 580 BTC later that month, increasing its holdings to 620 BTC. At acquisition costs, the holdings have been valued at roughly €50.5 million.
European Bitcoin treasury firm backing
The Blockchain Group’s strategy facilities on maximizing what it phrases “BTC Yield,” or the ratio of Bitcoin per absolutely diluted share. The metric climbed from 41 sats per share in late 2024 to 332 sats by the tip of Q1 2025, representing a 709.8% enhance. As of April 2025, shares had superior greater than 1,100% in lower than 12 months, propelled by investor enthusiasm for the Bitcoin-centric mannequin.
Future ambitions stretch significantly additional. The corporate outlined an eight-year roadmap focusing on Bitcoin holdings of between 170,000 and 260,000 BTC by 2033, a variety that represents roughly 1% of Bitcoin’s capped 21 million provide.
To fund the plan, The Blockchain Group initiatives to scale its capital elevating actions dramatically, estimating potential wants between €1 billion and €100 billion throughout varied phases.
Key backers have lent weight to the imaginative and prescient. Strategic traders collaborating within the latest bond subject included Adam Again, UTXO Administration, and Paris-based asset supervisor TOBAM. As the corporate famous in its submitting, TOBAM has beforehand revealed analysis suggesting that Bitcoin treasury firms might outperform Bitcoin itself over time, based mostly on capital accretion and market premiums.
Regardless of the momentum, dangers stay. The corporate flagged excessive worth volatility, liquidity constraints, cybersecurity publicity, and regulatory uncertainty amongst potential headwinds. Notably, Bitcoin holdings usually are not topic to authorized or contractual restrictions however depend upon market circumstances and inner threat administration practices.
The Blockchain Group closed its fiscal 12 months with web monetary debt of €2.74 million and obtainable money of €729,000. Auditors licensed the monetary statements with out reservations, confirming the corporate’s going concern standing.
For now, the European Bitcoin treasury firm’s administration path ahead rests squarely on executing its Bitcoin accumulation technique. The subsequent phases will rely closely on continued capital market entry and investor urge for food.
