SINGAPORE - Genius Group Limited (NYSE American: GNS), an education company integrating artificial intelligence and Bitcoin strategies, with a current market capitalization of $14.55 million and trading at $0.74 per share, has recently expanded its Bitcoin holdings, investing an additional $1.8 million into the cryptocurrency. According to InvestingPro data, the stock has experienced significant volatility, with an 89% decline year-to-date. This purchase brings the company's total Bitcoin investment to 172 Bitcoin, valued at $15.8 million, acquired at an average price of $92,006 each.
The recent acquisition occurred within three weeks following the company's announcement on November 12, revealing a "Bitcoin-first" strategy. While Genius Group plans to allocate 90% or more of its current and future reserves in Bitcoin, aiming for an initial target of $120 million in the digital currency, InvestingPro analysis indicates the company has been quickly burning through cash, with a weak overall financial health score of 1.58 out of 5.
On Tuesday, December 10, 2024, Genius Group's CEO, Roger Hamilton, is scheduled to detail the company's growth plans for 2025 during an Investor Meeting at the Bitcoin MENA 2024 conference in Abu Dhabi. The agenda includes discussing the Bitcoin-First Treasury Strategy and the development of an AI-powered decentralized education network. The network is expected to feature on-chain Genius Education Merits (GEMs), AI tutors, and AI Certifications built on the Lightning Network.
Genius Group, which serves 5.4 million users across over 100 countries, offers AI-powered education and acceleration solutions designed for the evolving demands of the workforce. The company's Genius City model and digital marketplace provide AI training, tools, and talent, aiming to blend human expertise with AI capabilities at individual, enterprise, and government levels.
This expansion of the Bitcoin Treasury is part of the company's broader strategy to integrate Bitcoin and AI into its business model and educational offerings. Despite current challenges, analysts tracked by InvestingPro forecast the company to become profitable this year, with revenue growth of 3.47% expected. The information regarding these developments is based on a press release statement. For deeper insights into GNS's valuation and 16 additional ProTips, including detailed financial analysis, discover the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Genius Group Limited has made significant strides in its financial and operational strategy. The company reported a substantial 130% increase in revenue for the first half of 2024, reaching $20.7 million, and a reduction in its adjusted EBITDA loss by 37%. Genius Group also expanded its Bitcoin holdings with an additional $4 million purchase, bringing its total investment to $14 million.
The company recently reshuffled its Board and Management team, appointing four new directors and an Interim CFO. This move followed the resignation of four directors due to conflicts of interest and breaches of fiduciary and statutory duties. CEO Roger Hamilton acquired 500,000 ordinary shares and received approval for the purchase of up to 10 million shares, reflecting confidence in the company's future.
Genius Group also launched GeniusGroup.AI, a global AI education platform, as part of its expansion strategy. The company completed Phase 1 of a $22 million contract with the government of Kazakhstan to develop a Sovereign AI and secured approximately $3.8 million from the exercise of Series 2024-C warrants, managed by H.C. Wainwright & Co. However, it announced the cancellation of its Extraordinary General Meeting after reevaluating the Proposed Share Consolidation plan. These are the recent developments for Genius Group.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.