AI company Genius Group has issued a $33 million private placement to increase its Bitcoin reserves.

BlockBeats News, January 14, Artificial Intelligence company Genius Group (NYSE American: GNS) announced that its board of directors has approved a plan to conduct a $33 million common stock offering, with the net proceeds from the offering to be used 100% to purchase Bitcoin for the company's Bitcoin treasury.

Additionally, the company also plans to seek one or more additional debt financing arrangements, totaling up to $20 million. If the company successfully raises the maximum amount through the stock offering and additional debt financing, the company's Bitcoin reserves will increase from approximately $35 million worth of Bitcoin to $86 million worth of Bitcoin.

The company will hold a live webcast and investor conference call on January 15, 2025, to discuss the stock offering.