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GNS announced on Thursday that it purchased 42 Bitcoin (BTC) between November 21 and December 3 at an average cost of $89,700 per BTC. This brings their total treasury holdings to 180 BTC, up from 138 BTC, a 30% increase.
Genius said these purchases, combined with prior trades, led to a cumulative realized profit of $1 million on its Bitcoin transactions in the fourth quarter (Q4). That figure includes gains from the sale of 62 BTC earlier at an average price of $108,000, plus gains from the recent repurchase at a lower cost.
Genius Group’s stock fell 2.5% in morning trade. On Stocktwits, retail sentiment around the company remained in ‘bearish’ territory over the past day.
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GNS retail sentiment and message volume on December 4 as of 12:44 p.m. ET | Source: Stocktwits
Meanwhile, Bitcoin was trading at about $92,962.20, up 0.51% over the past day. On Stocktwits, retail sentiment towards Bitcoin remained in 'bearish' territory through the previous day.
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Bitcoin retail sentiment and message volume on December 4 as of 12:44 p.m. ET | Source: Stocktwits
GNS also reported progress on its balance sheet. The company said it has reduced its flexible-term debt by $1.5 million, lowering total debt to $7.9 million from $9.4 million. According to the announcement, all liens on its assets from earlier debt arrangements have also been released.
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By raising its Bitcoin reserves while locking in profit, Genius appears to double down on its “Bitcoin-first” treasury strategy without diluting shareholders through new equity. The buyback happens amid a company's push to reduce debt and potentially fund future share repurchases or acquisitions.
GNS’ stock has gained nearly 2% this year but is down more than 18% in the last 12 months.
Read also: Bitcoin’s Price Could Fall To $75K Amid Crypto Sentiment Split, Warns Wolfe Research: Report
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