Blockchain Group, Europe’s first Bitcoin treasury company, has announced plans to raise €300 million (~$342 million) by issuing new shares aimed at increasing its Bitcoin holdings.
The Paris-based company will carry out the share issuance through a method known as an “at-the-market” (ATM) program, a style often used in the United States.
Through this program, the Blockchain Group will offer new shares directly to the market under certain conditions, instead of issuing all shares at once. The plan will be carried out in partnership with asset manager TOBAM, who is also a shareholder in the company.
According to the press release, “The Program allows TOBAM, on a daily basis, to subscribe to ordinary shares of the Company by submitting a subscription request after market close. Each request is subject to pricing and volume limits based on the market conditions.”
This means TOBAM can request to buy new shares every day, at a price based on the previous day’s closing or the average market price, whichever is higher. However, the amount of shares they can buy each day is capped at 21% of that day’s total trading volume.
Unlike typical ATM offerings in the U.S., where shares are often sold through financial intermediaries, TOBAM is not acting as a broker. Instead, it may choose to keep the shares and act as a long-term investor. TOBAM also won’t receive any placement fees or compensation for its role in this process.
Meanwhile, just last week, the company purchased 624 BTC for around $68.7 million, bringing its total Bitcoin holdings to 1,471 BTC, worth about $158 million at current prices. If the €300 million is raised, the company could potentially add more than 3,100 BTC to its treasury.
This move places Blockchain Group alongside firms like Tether-backed Twenty One, Trump Media, GameStop, and others who are also adding Bitcoin as part of their corporate treasury strategy
With Bitcoin trading above $107,000, The Blockchain Group’s decision to boost its holdings signals a strong belief in the future of digital assets.
Also Read: Big Tech Eyes Stablecoins for Global Payments
