The Blockchain Group has raised approximately €6 million in fresh capital as it accelerates its Bitcoin Treasury Company strategy.
The Paris-listed firm announced on July 15 that it had finalized two distinct funding rounds: a €1.1 million raise through an “ATM-type” agreement with asset manager TOBAM, and a €5 million reserved issuance fully subscribed by Adam Back, CEO of Blockstream and a notable figure in the Bitcoin ecosystem.
🟠The Blockchain Group announces a capital increase for an amount of ~€6 million to pursue its Bitcoin Treasury Company strategy⚡️
Full Press Release (EN): https://t.co/w5SltP0hoy
Full Press Release (FR): https://t.co/HtNyUnItCT
BTC Strategy (EN): https://t.co/1uqRIjnRat pic.twitter.com/tICq6UAX2E
— The Blockchain Group (@_ALTBG) July 15, 2025
Under the TOBAM agreement, the company issued 282,201 new shares at an average price of €3.95, attracting investment from multiple TOBAM-managed funds, including the Bitcoin Enhanced Fund and the Bitcoin Treasury Opportunities Fund. The pricing structure was based on a volume-weighted formula tied to recent market activity, with the final price reflecting a modest 5.1% discount to the July 11 closing price. According to the company, proceeds from this tranche are earmarked to support additional Bitcoin acquisitions, reinforcing its goal to increase its fully diluted BTC-per-share ratio steadily.
Building on this momentum, the second tranche was completed on July 14, when Adam Back acquired 1,248,439 new shares at €4.005 each, matching the closing price that day. The reserved issuance was executed without pre-emptive shareholder rights, made possible by a prior board-authorized mandate. Taken together, the two capital raises are expected to fund the purchase of roughly 50 BTC, potentially lifting The Blockchain Group’s total holdings to 1,983 BTC.
This follows an earlier disclosure from the company, confirming the acquisition of 29 additional BTC worth €2.8 million, completed through a €3 million ATM raise on July 8 at an average price of €4.056 per share.
With Adam Back now holding a 12.6% stake, the company continues to consolidate its shareholder base while pushing forward its objective of becoming a leading European corporate holder of Bitcoin. All newly issued shares are set to be listed on Euronext Growth Paris, as the firm positions itself alongside U.S. peers embracing Bitcoin-centric treasury models.
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