Blockchain Group Gathers $13M to Push Ahead with Its Bitcoin Treasury Ambitions

The Blockchain Group Raises €11M to Expand Bitcoin Treasury Holdings

The Blockchain Group (ALTBG), listed on Euronext Growth Paris, has secured around €11 million ($13 million) in new funding to push forward its strategy of becoming Europe’s leading bitcoin treasury-focused company.

The company aims to boost its bitcoin reserves relative to its outstanding shares, offering investors more direct exposure to digital asset price movements.

The funding round included €1.1 million ($1.18 million) raised through a share issuance priced at €5.251 each, completed under an “ATM-style” agreement with asset manager TOBAM.

Additionally, The Blockchain Group’s Luxembourg-based subsidiary issued €10 million ($11.8 million) in convertible bonds. These bonds were priced at €5.174 per share, marking a 30% premium over the firm’s closing share price on June 27. Half of this bond offering was subscribed by TOBAM, while the remaining €5 million was contributed by Adam Back, a well-known figure in the early days of bitcoin.

At present, The Blockchain Group holds 1,794 BTC on its balance sheet. Following the news, the company’s shares climbed 1% on Tuesday.