Key Points:
- Genius Group Bitcoin reserves continue to be enhanced with a $33 million equity offering.
- Shareholders can purchase shares at $0.50 each, with founder Roger Hamilton planning to increase his stake to 10.3%.
Genius Group, the leading artificial intelligence company, announced its plans to continue with a $33 million equity offering, all net proceeds to be used in expanding its Bitcoin treasury.
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Genius Group Announces $33 Million Equity Offering
The company intends to use the funds to purchase more Bitcoin, strengthening its position in the cryptocurrency market. If successful, the offering will increase Genius Group Bitcoin reserves from approximately $35 million to $86 million.
The equity offering would allow Genius Group shareholders to purchase shares at $0.50 each, with the potential for additional shares through over-subscription. Founder and Chief Executive Roger Hamilton, who said he would buy extra beyond his pro-rata, will lift his stake in the company to about 10.3%.
The move comes on the heels of Genius Group’s broader strategy to invest in Bitcoin, first announced in November 2024 heavily. The firm intends to commit at least 90% of its reserves to Bitcoin, and it is targeting an initial $120 million in cryptocurrency holdings.
Genius Group Bitcoin Investment Sets Target of $120 Million
The company recently spent $5 million to acquire more Bitcoin, bringing its total holdings to 372 BTC, which is valued at $35 million at an average price of $94,047 per Bitcoin. Genius Group Bitcoin purchase forms part of its ongoing efforts toward the continuous expansion of its digital assets as part of its investment strategy.
Genius Group will host a webcast and investor conference call, both live, on January 15, 2025, where further details related to the equity offering and the future, long-term plans of increasing its Bitcoin reserves are shared. If successful, contemplated additional loan financing could see the Genius Group’s Bitcoin reserves grow substantially over the upcoming months.
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