The Blockchain Group Shares Surge 17% After €300 Million Bitcoin Expansion Plan

The Blockchain Group, a publicly traded firm based in Paris, has announced plans to raise €300 million through an at-the-market (ATM) offering to expand its Bitcoin holdings. This strategic move involves issuing new shares incrementally and selling them directly to the market at prevailing prices, which are determined by either the previous day’s closing price or the volume-weighted average price, whichever is higher. The offering is conducted in partnership with TOBAM, a French asset manager, which will acquire shares daily with a cap set at 21% of the daily trading volume. This structure provides flexibility and market responsiveness, enabling The Blockchain Group to steadily accumulate Bitcoin while managing dilution and market impact.

Following the announcement, The Blockchain Group’s shares rose to €4.80, marking a 17% increase within 24 hours. This surge reflects strong market endorsement of its Bitcoin acquisition strategy. The company’s recent $68 million Bitcoin purchase exemplifies its commitment to this strategy, aiming to capitalize on Bitcoin’s robust performance, which has surged approximately 55% over the past year, reaching around $108,400 per coin. This move aligns with a broader trend where public companies are increasingly integrating Bitcoin into their corporate treasuries, inspired by pioneers like software firm Strategy.

Currently, over sixty public companies hold Bitcoin on their balance sheets, with combined holdings valued at approximately $82 billion. This growing cohort includes firms from diverse sectors, reflecting widespread institutional acceptance of Bitcoin as a treasury asset. Notably, companies like Treasure Global and Davis Commodities have recently declared intentions to establish Bitcoin treasuries, signaling a sustained momentum in corporate crypto adoption. The Blockchain Group’s partnership with TOBAM and its structured issuance plan, which allows up to €300 million in new shares over six months, positions it among the leading entities leveraging market mechanisms to enhance Bitcoin exposure.

The Blockchain Group’s board retains discretion to renew or extend the issuance program beyond the initial six-month period, providing strategic flexibility. The company commits to transparency by regularly updating stakeholders on the volume of new shares issued and disclosing Bitcoin holdings on a fully diluted per-share basis. This level of disclosure is critical for investor confidence, enabling market participants to accurately assess the company’s Bitcoin exposure and its impact on shareholder value. Such governance practices underscore The Blockchain Group’s intent to maintain accountability while executing its Bitcoin treasury strategy.

The Blockchain Group’s €300 million at-the-market offering represents a calculated and transparent approach to expanding its Bitcoin treasury, reflecting a broader institutional embrace of cryptocurrency as a strategic asset. By partnering with TOBAM and implementing a disciplined issuance framework, the company balances market dynamics with shareholder interests. As more public firms follow suit, The Blockchain Group’s initiative exemplifies the evolving landscape of corporate treasury management, where Bitcoin plays an increasingly prominent role in financial strategy and asset diversification.