The Blockchain Group Issues Shares Worth $8.3M to Grow Bitcoin Reserves

Key Insights:

• The Blockchain Group plans to raise $8.3 million through new share issuance to buy more bitcoin.
• The firm has launched a $342 million at-the-market program to expand its bitcoin holdings.
• The Blockchain Group currently holds 1,471 BTC and trades on Euronext Growth Paris.

Blockchain Group, a Paris traded firm which became the first Bitcoin treasury company in Europe, announced recently its plans to issue new shares to bring in an additional 7.2 million euros ($8.3 million) in capital funds. That money will be utilized to raise the companies Bitcoin holdings, which the company previously announced its future plans to maximize holdings in crypto.

The Blockchain Group Raised $8.3M to Expand Its Bitcoin Strategy

According to an official statement, The Blockchain Group launched a new capital raise by issuing approximately 1.6 million ordinary shares. The average subscription price was set at €4.49 ($5.19) per share. This move is part of the company’s ongoing initiative to expand its Bitcoin treasury under an at-the-market (ATM) share issuance program valued at $342 million.

The raise was executed in partnership with TOBAM, a French asset management firm and shareholder in the company. All 1.6 million shares were subscribed by three of TOBAM’s funds, with the largest allocation acquired by the TOBAM Bitcoin CO2 Offset Fund. The remaining shares were purchased by the Bitcoin Treasury Opportunities Fund and the Blockchain Equity Fund.

More so, the issuance represents a step forward in the company’s ambition to secure a dominant position in corporate Bitcoin holdings across Europe. The subscription price carried a 20.76% discount from the June 13 closing price due to prevailing market conditions during the raise.

Growing Corporate Treasury Model and Shareholder Support

The capital raise follows a shareholder vote on June 11 that approved an increase in fundraising capacity to €500 million in nominal value. The resolution received over 95% approval, signaling strong backing from investors for the company’s Bitcoin-focused direction.

On a fully diluted basis, The Blockchain Group’s total share count now exceeds 313 million. This includes potential shares from bonds, free share grants, and convertible warrants.

The company has been actively pursuing its crypto treasury model since late 2024. Last week, it also announced a separate equity and convertible bond issuance worth €9.7 million ($11.2 million). Combined, these steps form a broader strategy to expand the firm’s Bitcoin reserves well beyond current levels.

As of the latest data from Bitcointreasuries.net, The Blockchain Group holds 1,471 BTC. The company trades under the ticker ALTBG.PA on Euronext Growth Paris. Its stock fell over 4% during the recent session and was trading at €5.53 at the time of writing.

Bitcoin Acquisition Goals and Market Parallels

The Blockchain Group has set out long-term prospects in order to hold up to 260,000 BTC by 2033. This target translates to about $24 billion of potential Bitcoin reserves at the current market rates. This method resembles the model of the companies such as Strategy, which is headed by Michael Saylor and Japan-based Metaplanet, both of them are reputed to have sizeable holdings of Bitcoin.

Therefore, the capital stake that TOBAM has in the company now amounts to 3.3% on a diluted basis. This shows that financial institutions are confident in the treasury strategy that The Blockchain Group has created.

The company is also engaged in the decentralized technology industry and artificial intelligence industry. Nevertheless, the current focus remains on expanding its crypto treasury, positioning Bitcoin as a key asset class within its corporate structure.

Bitcoin Price and Treasury Market Trends

At the time of the announcement, Bitcoin traded at around $105,600, down 3% over the previous seven days. Despite short-term price volatility, the company reaffirmed its long-term commitment to Bitcoin acquisition.

Large corporate holders have continued to accumulate. Strategy recently purchased 10,100 BTC, boosting its holdings to over 592,000 BTC.

Industry estimates suggest total institutional BTC holdings could surpass $330 billion by 2029. Blockchain Group’s expanding reserves position it to be among the leading European corporate BTC holders if the strategy continues as planned.

Disclaimer

This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.