- Genius Group has announced a $33 million rights offering
- The company will use net proceeds from the sale to buy Bitcoin
- Genius Group holds $35 million in BTC and could see holdings rise to $86 million with plans for an additional $20 million loan
Publicly-listed artificial intelligence firm Genius Group plans to raise $33 million to buy additional Bitcoin (BTC) as part of its BTC treasury.
Genius Group announced on January 14 that the company’s board of directors had approved a rights offering plan for $33 million. The company will use net proceeds from the shares sale to purchase more Bitcoin.
As well as the rights offering, Genius Group is eyeing further financing, with one or more loan options aggregating to $20 million on the table.
The company’s current BTC treasury stands around $35 million, which means successful raises from the offering and via the loans option could see Genius Group’s total Bitcoin haul rise to $86 million.
Bitcoin strategy
AI-powered Genius Group’s move to add to its Bitcoin treasury comes amid a broader surge in public and private companies buying BTC to add to their balance sheets. This trend picked up momentum in 2024 following major expansion efforts by the leading corporate holder of BTC, MicroStrategy.
Having inspired other companies like Metaplanet, KULR Technologies, and multiple Bitcoin mining companies, MicroStrategy’s playbook is now a major talking point in boardrooms. Nasdaq-listed Heritage Distilling recently adopted the Bitcoin strategy.
Despite shareholders of Microsoft down voting a proposal that sought to have the tech giant add BTC to its treasury, experts are upbeat that it’s early days. Meta is facing a similar proposal.
The approval of spot Bitcoin exchange-traded funds (ETFs) in the U.S., with BlackRock’s IBIT currently holding billions of dollars in BTC, is another big development in the past year.
