The Blockchain Group Secures €11M to Bolster Bitcoin Treasury Plans
The Blockchain Group (ALTBG), traded on Euronext Growth Paris, has raised around €11 million ($13 million) in new funding to support its ambition of becoming Europe’s first pure-play bitcoin treasury company.
The initiative reflects the firm’s long-term goal of growing its bitcoin reserves relative to its number of outstanding shares, aiming to give shareholders more direct exposure to digital asset price movements.
The capital raise included €1.1 million ($1.18 million) through a share issuance priced at €5.251 per share, carried out via an “ATM-type” arrangement with asset manager TOBAM.
In addition, The Blockchain Group’s fully owned Luxembourg subsidiary issued €10 million ($11.8 million) in convertible bonds. These bonds were set at €5.174 per share—a 30% premium over the company’s closing price on June 27. Half of this bond issue was purchased by TOBAM, while the other €5 million came from early bitcoin pioneer Adam Back.
Currently, The Blockchain Group holds 1,794 BTC. Its stock rose 1% on Tuesday following the news of the successful fundraising.
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