The Blockchain Group Raises €11M to Advance Bitcoin Treasury Strategy
Euronext Growth Paris-listed firm The Blockchain Group (ALTBG) has raised approximately €11 million ($13 million) in fresh funding as it ramps up its efforts to become Europe’s first bitcoin-focused treasury company.
The capital injection supports the company’s mission to expand its bitcoin holdings in proportion to its outstanding shares, providing shareholders with a direct link to the performance of the digital asset market.
As part of the fundraising, The Blockchain Group secured €1.1 million ($1.18 million) through a share offering priced at €5.251 per share, executed under an “ATM-style” agreement with asset management firm TOBAM.
In a parallel move, its Luxembourg-based subsidiary issued €10 million ($11.8 million) worth of convertible bonds, priced at €5.174 per share—representing a 30% premium over the June 27 closing price. TOBAM acquired half of the bond offering, while the remaining €5 million was subscribed by Adam Back, a prominent early figure in Bitcoin’s development.
The company currently holds 1,794 BTC on its balance sheet. Shares of The Blockchain Group rose by 1% on Tuesday following the announcement.
