The Blockchain Group to Raise €300 Million for Bitcoin Treasury

Highlights:

• The Blockchain Group raises €300M with TOBAM to expand Bitcoin holdings.
• ATM format lets TOBAM buy shares daily based on VWAP or closing price.
• Institutional confidence grows as major holders increase funding for long-term Bitcoin.

Paris-based crypto company The Blockchain Group, listed on Euronext Growth Paris, announced on Monday that it plans to raise 300 million euros, about $342 million in partnership with asset manager TOBAM. The funds will be used to buy more Bitcoin and strengthen its position as Europe’s first company focused entirely on holding Bitcoin as a core part of its business.

Funding Round Uses ATM Sales to Raise Capital Over Six Months

This fundraising move highlights growing interest from major institutions in crypto across Europe. The funding round uses an At-The-Market (ATM) format, allowing TOBAM to subscribe for ordinary shares daily. The purchase price is based on the higher of the previous day’s closing price or the volume-weighted average price (VWAP). Each day, the sale will be limited to 21% of that day’s total trading volume, the announcement said. The capital increase can happen in parts up to the total set amount, planned for six months. However, TOBAM and The Blockchain Group’s board may decide to extend, renew, or end this period, the company said.

Throughout the program, the company will provide regular updates to the market about the newly issued shares, covering details such as the quantity, pricing, and schedule. They will also report the number of Bitcoins acquired and track bitcoin per share on a fully diluted basis. Any suspension, termination, or change to the program will be announced as well. TOBAM, which has supported Bitcoin since 2017, is joining the deal but is not acting as a middleman and won’t receive any fees.

🟠 The Blockchain Group Launches a €300 Million “ATM-type” Capital Increases Program with TOBAM⚡️

Full Press Release (EN): https://t.co/DbXXbb6OT8

Full Press Release (FR): https://t.co/XbaTfaOqfn

BTC Strategy (EN): https://t.co/EiVKw8s4zB pic.twitter.com/dZQCIckgK8

— The Blockchain Group (@_ALTBG) June 9, 2025

Right now, key investors include well-known cryptographer Adam Back and venture firm Fulgur Ventures. The announcement came a week after the company bought $68 million worth of Bitcoin, increasing its total to 1,471 Bitcoins, worth over $154 million, according to a press release on June 3.

Major Bitcoin Holders Increase Funding to Buy More BTC

Amid inflation and uncertainty, the company’s shift to Bitcoin shows growing institutional confidence in it as a long-term asset. On Friday, Michael Saylor’s company, Strategy, said it plans to raise nearly $1 billion through a stock sale for future Bitcoin purchases, four times more than its earlier $250 million plan.

Strategy is the world’s largest corporate Bitcoin holder, with over $61 billion in Bitcoin, which is about 2.76% of all Bitcoin in circulation, according to Bitbo data. Over the last week, 16 additional companies have started including Bitcoin in their corporate holdings.

Recently, pro-XRP attorney John Deaton shared that buying Bitcoin now may offer greater upside than when it was priced at $25K. He pointed to rising institutional interest, global economic conditions, and changing political dynamics as factors making Bitcoin a more attractive and imbalanced investment opportunity today.

I’m not in favor of telling people living paycheck to paycheck (me until 15 years ago) to take out a mortgage on their primary home to buy Bitcoin (I’m not suggesting that that’s what David is recommending either), but I am in the process of selling real estate, and although my… https://t.co/JMB1zgeazW

— John E Deaton (@JohnEDeaton1) June 8, 2025