The Blockchain Group Plans €300 Million Equity Sale Through ATM to Accumulate More Bitcoin

The Blockchain Group to Raise €300M for Bitcoin Accumulation via New Share Issuance, Backed by TOBAM

The Blockchain Group (ALTBG) has announced a €300 million at-the-market (ATM) share offering, targeting the expansion of its bitcoin holdings as part of its strategic pivot to become Europe’s first dedicated Bitcoin Treasury company.

The offering will be carried out with the support of French asset manager TOBAM, which already holds a 3% stake in the company. Under the new arrangement, TOBAM could increase its position to as much as 39%, should it choose to fully participate in the share program at current market prices.

Offering Mechanics:

• Shares will be issued at the greater of either the previous closing price or the volume-weighted average price (VWAP).
• Daily issuance volume is capped at 21% of the total daily trading volume.
• TOBAM will act solely on its own behalf, not as a broker or dealer, and will make independent decisions regarding whether to hold or sell the shares.

The proceeds are earmarked for additional bitcoin purchases, continuing The Blockchain Group’s treasury strategy that began in late 2024. As of early June, the company has accumulated 1,471 BTC at an average price of $102,507.

Pending shareholder approval in a June 10 vote, the offering limit could be expanded to €500 million.

Following the announcement, ALTBG shares surged 20%, trading at €4.90, valuing the firm at approximately €543 million.

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