The Blockchain Group Secures €63.3M Convertible Bonds to Boost Bitcoin Reserves
The Blockchain Group (ALTBG), a Paris-based company specializing in data intelligence and decentralized technology, has successfully raised €63.3 million ($71.9 million) through a convertible bond issuance to support its expanding bitcoin treasury.
This capital raise, executed via its Luxembourg subsidiary, marks a strategic effort to increase BTC holdings and strengthen investor confidence amid growing interest in digital assets.
Included in the financing is a $5.7 million bitcoin-linked bond taken up by Moonlight Capital, priced at a 30% premium over the May 23 closing price of $4.30 per share.
Furthermore, strategic investors Fulgur Ventures and UTXO Management exercised their rights on Convertible Bonds B-02 (“OCA Tranche 2”) at $0.79 per share, injecting $66 million.
Notably, Adam Back, a prominent investor, converted all of his OCA Tranche 1 bonds into nearly 15 million shares, signaling a strong endorsement of the company’s vision.
The proceeds will facilitate the purchase of approximately 590 bitcoins, increasing The Blockchain Group’s total holdings to around 1,437 BTC.
