SINGAPORE - Genius Group Limited (NYSE American: GNS), an AI-driven education company with a focus on Bitcoin, has expanded its Bitcoin holdings by purchasing an additional $5 million worth of the cryptocurrency, bringing its total investment to $40 million at an average price of $95,912 per Bitcoin. This latest acquisition increases the group's Bitcoin Treasury to 420 Bitcoin. With a current market capitalization of $42.53 million and a beta of 10.68, InvestingPro data shows the company operates with significant market volatility.
The company's aggressive investment in Bitcoin follows its announcement on November 12, 2024, of a Bitcoin-first strategy, committing 90% or more of its reserves to Bitcoin with an initial aim of reaching $120 million in Bitcoin holdings. Genius Group's Bitcoin purchases have been funded through its reserves, use of its ATM facility, and $19 million in debt financing from Arch Lending, a crypto-backed loan platform. According to InvestingPro analysis, the company's financial health score stands at a concerning 1.55 (WEAK), with revenue declining 34.48% in the last twelve months.
An investor call was held on Sunday to discuss a planned rights offering aimed at raising up to $50 million to further bolster its Bitcoin Treasury. Details of the call, including the recording, presentation, and script, are available on the company's investor relations website. With the next earnings report due on February 26, 2025, investors can access comprehensive analysis and 15 additional ProTips through InvestingPro's detailed research reports.
Genius Group serves a global user base of 5.4 million across over 100 countries, offering AI-powered education and acceleration solutions through its Genius City model and online digital marketplace. The company provides personalized, entrepreneurial pathways that integrate human talent with AI skills and solutions for individuals, enterprises, and governments.
The company's forward-looking statements indicate a strong commitment to its Bitcoin-first approach, despite acknowledging the inherent risks and uncertainties associated with such a strategy. Investors are advised to consider these risks along with other factors detailed in the company's regulatory filings.
This expansion of the Genius Group's Bitcoin Treasury is based on a press release statement and reflects the company's confidence in cryptocurrency as a key asset for its financial strategy.
In other recent news, Genius Group Limited has significantly expanded its Bitcoin Treasury, with a series of acquisitions totaling $15.8 million. This aggressive strategy is part of the company's Bitcoin-first approach, aiming for an initial target of $120 million in the cryptocurrency. The firm's Bitcoin holdings have been funded through a mix of cash reserves, At-the-Market offerings, and loans, including a $14 million loan from Arch Lending.
Genius Group has also reported a substantial 130% increase in revenue for the first half of 2024, reaching $20.7 million. Despite challenges with cash burn and liquidity, the company has managed to reduce its adjusted EBITDA loss by 37%.
In terms of strategic moves, Genius Group recently acquired XD Academy, a learning platform specializing in Bitcoin and Blockchain education. This acquisition aligns with the company's focus on integrating Bitcoin into its educational initiatives. Furthermore, the company has reshuffled its Board and Management team, appointing four new directors and an Interim CFO. CEO Roger Hamilton has also shown confidence in the company's future, acquiring 500,000 ordinary shares and receiving approval for the purchase of up to 10 million shares.
These are recent developments for Genius Group, which continues to make strides in its Bitcoin strategy and financial performance.
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