Genius Group Limited (GNS) stock rose 11% to approximately $0.72 in early US trading Monday

The AI-driven education company said it had expanded its Bitcoin holdings to $30 million, according to Yahoo Finance.

AI-driven education company Genius Group (GNS) increased its Bitcoin (BTC) holdings by $10 million, bringing the total value of its Bitcoin Treasury to $30 million, according to Yahoo Finance.

The company now holds 319.4 Bitcoin, as reported in a statement on Monday.

The move comes as Genius Group reported a 177% increase in net asset value to over $54 million in the first half of 2024, which surpasses its market capitalization of more than $40 million.

Moreover, the company introduced BTC Yield as a new performance metric, showcasing a 1,649% yield since its initial Bitcoin acquisition in November.

As previously announced in November, Genius Group planned to hold 90% or more of its reserves in Bitcoin, aiming to reach $120 million. Following this strategy, the company has been making regular purchases, beginning with a $10 million investment on November 18.

“We have been buying Bitcoin consistently and are pleased to be ahead of our internal schedule to reach our initial target of 1,000 Bitcoin in our Treasury,” said Genius Group CEO Roger Hamilton.

The Bitcoin purchases were funded through a combination of reserves, ATM proceeds, and a $10 million Bitcoin loan from Arch Lending.