The Blockchain Group Completes 9.7 Million Euros in Financing, Plans to Increase Bitcoin Holdings to 1,611

The Blockchain Group (Euronext Growth Paris: ALTBG), a European listed company, recently announced the completion of 9.7 million euros in financing to advance its Bitcoin reserve strategy. The funds were raised through a combination of equity and convertible bonds. The main investors include Blockstream co-founder Adam Back, French asset management company TOBAM, and entrepreneur Ludovic Chechin-Laurans.

According to the announcement, TOBAM subscribed to 6 million euros of convertible bonds, with a conversion price of 30% premium over the current market share price; Ludovic Chechin-Laurans invested 2.4 million euros in Bitcoin; Adam Back chose to convert all of his first convertible bonds into 14.9 million shares of ALTBG and subscribed for an additional 2.1 million shares.

The company expects that this financing will bring it the ability to increase its holdings by about 80 bitcoins, and the total reserves will increase from the current 1,531 to 1,611, further consolidating its positioning of Bitcoin as a strategic asset reserve.

The Blockchain Group said that this round of financing demonstrates the recognition of the company's Bitcoin strategy by long-term investors, and also enhances ALTBG's influence in the European capital market and digital asset field. In recent years, the company has continued to adjust its asset structure, viewing Bitcoin as part of its anti-inflation and risk-averse configuration, and trying to build an asset positioning logic that is different from traditional technology stocks.