The Blockchain Group (ALTBG), a Paris-listed tech firm that brands itself as Europe’s first bitcoin

BTC$104,910.57

treasury company,saidit bought 182 BTC for 17 million euros ($19.6 million), bringing its total stash to 1,653 BTC valued at nearly 149 million euros.

The purchase follows a series of convertible bond issuances totaling over 18 million euros, subscribed by UTXO Management, Moonlight Capital, Ludovic Chechin-Laurans and asset manager TOBAM. It also converted share warrants into nearly 3 million ordinary shares, raising another 1.6 million euros for bitcoin purchases.

The company said it achieved a 1,173% BTC yield so far this year. The metric is defined as the ratio of total BTC held to fully diluted shares outstanding. Several companies use the term to measure how accretive their bitcoin acquisition strategy is, though they may track the yield in different ways.

Even so, The Blockchain Group’s figure stands out. Strategy (MSTR), the world’s largest corporate holder of bitcoin, reported a 19.1% BTC yield year-to-date while Metaplanet (3350) reported 266.07% and Semler Scientific (SMLR) 26.7%.

The Blockchain Group’s bitcoin was purchased through Swissquote Bank Europe and Banque Delubac, and is held in custody by Taurus, a Swiss digital asset infrastructure provider.

The latest round of purchases brings the average cost basis of the firm’s bitcoin to about 90,000 euros per coin.

Shares of The Blockchain Group fell 2.1% to 4.895 euros in early Wednesday trading on Euronext Paris. The benchmark CAC 40 Index was little changed.