• CROX ROAD
  • Posts
  • The Blockchain Group Raises €4.1M to Fuel Strategic Growth

The Blockchain Group Raises €4.1M to Fuel Strategic Growth

The Blockchain Group raises €4.1M via an ATM-type program with TOBAM to support its Bitcoin Treasury strategy. Learn how this move impacts investors, share structure, and the company’s long-term crypto-focused growth.

On June 24, 2025, The Blockchain Group (ALTBG)—a pioneering Bitcoin Treasury Company listed on Euronext Growth Paris—announced a €4.1 million capital raise through an “ATM-type” (At-The-Market) program. The initiative, executed in partnership with asset manager TOBAM, reflects the company’s broader ambition to enhance its bitcoin holdings per share and reinforce its role as a major player in decentralized technologies, AI, and data intelligence.

This latest funding round aligns with The Blockchain Group’s strategic objective to increase the number of bitcoins held per share on a fully diluted basis, a metric it has championed in its unique treasury philosophy.

Table of Contents

Key Financial Details of the Capital Increase

The capital raise involved the issuance of 800,690 new ordinary shares at an average price of €5.085 per share, totaling €4,071,368.65 (including share premium). The shares were allocated across several TOBAM-managed funds and other investors as follows:

Investor

Shares Subscribed

Avg. Price (€)

Investment (€)

TOBAM BITCOIN CO2 Offset Fund

402,078

€5.126

€2,061,205.98

TOBAM Bitcoin Treasury Opportunities Fund

294,658

€5.026

€1,480,938.78

TOBAM BTC Linked and Blockchain Equity Fund

46,642

€5.161

€240,713.07

MDP Blockchain

57,312

€5.034

€288,510.82

Total

800,690

€5.085

€4,071,368.65

The subscription price was determined according to the ATM agreement terms: the higher of the prior day’s closing price or volume-weighted average price (VWAP), with the share volume capped at 21% of the previous day’s trading volume.

Purpose: Driving Bitcoin Acquisition and Long-Term Value

Proceeds from the capital raise are earmarked to acquire approximately 40 additional bitcoins, expanding The Blockchain Group’s potential holdings to 1,768 BTC. This purchase supports the company's long-standing strategy to increase bitcoin reserves per share, reinforcing its financial strength and crypto-centric positioning.

The move builds on the firm’s vision of becoming a hybrid between a tech advisory business and a bitcoin treasury, combining operational business lines in AI, data intelligence, and decentralized tech consulting with a strong crypto balance sheet.

Impact on Share Capital and Ownership Structure

The capital increase has implications for shareholder equity and dilution. On a fully diluted basis, the number of shares would rise significantly due to current and anticipated issuances, including convertible bonds (OCA), free shares, and warrants (BSA 2025-01). Here's a snapshot:

Shareholder

Pre-Increase %

Post-Dilution %

Executives

9.14%

5.77%

Adam Back

11.44%

10.78%

TOBAM

5.49%

3.56%

Public & Institutional

73.93%

30.74%

Fulgur Ventures

0.00%

46.03%

The public float is set to decrease substantially in relative terms post-dilution, as major investors—particularly Fulgur Ventures—will hold larger proportions on a fully diluted basis.

No Prospectus Required, But Investor Caution Advised

The transaction did not require a prospectus approved by the AMF (French Financial Markets Authority) due to the nature of the offering. However, The Blockchain Group cautioned that potential dilution and market volatility should be factored into investment decisions. Risk factors are disclosed in its 2024 annual financial report, available on the company’s investor portal.

Strategic Implications and Market Outlook

This capital raise affirms The Blockchain Group's unique hybrid model—functioning simultaneously as a tech consultancy and a Bitcoin-holding corporate entity. With a treasury increasingly backed by bitcoin, the company is leveraging market cycles and institutional investor appetite to grow assets while preserving its decentralized financial ethos.

TOBAM’s continued support signals confidence from institutional circles in this unorthodox model, although investors should carefully monitor dilution risks, execution on capital deployment, and regulatory developments in the crypto space.

Conclusion

The Blockchain Group’s €4.1 million capital raise is more than a funding round—it is a calculated step in reshaping corporate treasury management around digital assets. With its eye on long-term value creation through bitcoin accumulation, the company is pushing boundaries in how tech firms manage capital, structure equity, and communicate investor value in a decentralized world.

Whether this model will attract wider emulation remains to be seen, but for now, The Blockchain Group stands out as a bold innovator in the digital finance frontier.

FAQs

What is the purpose of The Blockchain Group's €4.1M capital raise?

The capital raise aims to acquire approximately 40 additional bitcoins to increase the company’s bitcoin holdings per share as part of its long-term Bitcoin Treasury strategy.

What is an ATM-type capital increase?

An “ATM-type” (At-The-Market) capital increase allows a company to raise funds by issuing new shares directly into the market at prevailing prices, providing flexibility and speed in capital raising.

Who are the major investors in this round?

The funding round was led by TOBAM through its various funds, including the TOBAM Bitcoin CO2 Offset Fund and the TOBAM Bitcoin Treasury Opportunities Fund. MDP Blockchain also participated.

How does this impact existing shareholders?

The issuance of new shares causes dilution of existing shareholders’ stakes. On a fully diluted basis, major investors like Fulgur Ventures and Adam Back will hold increased portions of the company.

Will there be more capital increases in the future?

Yes. The company notes that additional share issuances may occur through convertible bonds, warrant exercises, and previously authorized capital increases, potentially affecting future equity distribution.

That's all for today, see ya tomorrow! If you want more, be sure to follow our X (@croxroadnewsco), Instagram (@croxroadnews.co), Youtube (@thebitcoinlibertarian), Tiktok (@croxroadnews) and nostr - [email protected]

VISIT OUR STORE

The Best Merch For Bitcoin Maxis

Visit Crox Road Store 👉🏻 https://croxroad.store/

FOLLOW US ON NOSTR

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.

You May Also Like

If You Like Our Content And Want To Help Us To Make It Better, You Can Buy Us One (Or More!) Coffee CLICKING HERE

Reply

or to participate.