The Blockchain Group announced on June 17 that it has raised an additional €7.2 million through an At‑The‑Market style offering. The Paris‑listed firm issued 1.6 million new shares at an average price of €4.49.
That price reflected a discount of just over 20% from the stock’s close on June 13, a move driven by market volatility during the capital raise.
Details of the Raise
This latest funding round was arranged with asset manager TOBAM. The money will go directly into growing the company’s Bitcoin treasury.
Since late 2024, The Blockchain Group has made acquiring Bitcoin a central part of its strategy. With this new injection of capital, it can continue adding tokens to its balance sheet without taking on debt.
Strategic Context
Last week, The Blockchain Group revealed plans to raise more than $340 million for its Bitcoin treasury effort. That announcement signalled a push by European institutions toward digital assets.
The company aims to hold up to 260,000 BTC, which would be worth about $24 billion at today’s prices, by 2033. Few European firms have taken such an aggressive approach to building a Bitcoin reserve.
Structure of the Offering
The At‑The‑Market method lets the company sell shares into the open market under pre-agreed terms. Shares are sold in tranches, each priced at the higher of the previous day’s closing price or the volume‑weighted average price.
Sales on any day cannot exceed 21% of that day’s trading volume. This flexible approach helps the company raise funds steadily across market swings.
Shareholder Approval and Support
On June 11, shareholders voted to increase the company’s capital raise limit to €500 million in nominal value. More than 95% of votes backed the change.
The strong show of support eased concerns about share dilution and demonstrated investor confidence in The Blockchain Group’s Bitcoin‑focused vision.
Industry Comparisons
The Blockchain Group’s model echoes moves by the US company MicroStrategy and Japan’s Metaplanet, both of which have turned corporate treasuries into large Bitcoin vaults.
Those firms have shown that holding Bitcoin can serve as a long‑term hedge against inflation and fiat depreciation. By following a similar path, The Blockchain Group hopes to deliver stronger returns than traditional cash reserves.
Wider Market Trend
Analysts estimate that corporate Bitcoin holdings may hit $330 billion by 2029. A number of small-cap companies have also unveiled plans to build treasuries of crypto assets such as XRP and Solana.
Many of these outfits trade on major exchanges but have market values under $100 million, raising questions about their ability to execute large token buys.
Critics Raise Concerns
Matthew Sigel, head of digital assets at VanEck, warns that some of these capital plans look like publicity stunts.
He argues that when a tiny stock claims it will amass hundreds of millions in crypto without naming key backers, it risks becoming an insider pump and dump scheme. His view highlights the need for transparency and real backing in any token treasury drive.
With this fresh €7.2 million raise, The Blockchain Group continues on its path to becoming Europe’s leading Bitcoin treasury firm. Backed by strong shareholder support and an established market framework, the company is set to add more tokens over the coming months.
