The Blockchain Group announces the implementation of a funding line of 300 million euros. Listed on Euronext Growth, the company plans to use these funds to support its Bitcoin focused strategy.
The Blockchain Group implements a program of 300 million euros to consolidate its Bitcoin strategy
The Blockchain Group (Altbg), a company listed on Euronext Growth and positioned as a pioneer of Bitcoin cash in Europe, announced the launch of a Financing program of 300 million euros to buy BTC. The operation is structured in partnership with Tobam, a French management company active in the Crypto markets since 2017.
The system selected is based on a mechanical known as “AT The Market” (ATM), still rare in France but already well known to American technological companies. Concretely, Tobam has undertaken to subscribe weekly to new actions issued by The Blockchain Group, during the market, up to a total amount of 300 million euros.
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This type of progressive, flexible and non -dilutive lifting in the immediate, allows the transmitter to adjust volumes to available liquidity and market conditions.
“” This program is a long -term strategic tool to continue our roadmap around Bitcoin, in a controlled and non -speculative manner “Said Samir Ounzari, Deputy Managing Director of The Blockchain Group, quoted in the press release. The operation is a continuation of the turn initiated by the company in 2023, with a progressive allowance of its cash surpluses towards Bitcoin, a position which it claims today as “central”.
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In addition to the objective of strengthening its exhibition at the BTC, The Blockchain Group intends to finance with this program The growth of its activities around on-chain data and Bitcoin infrastructure, in France and internationally.
The company, whose turnover amounted to 7.8 million euros in 2023, specifies that the decision to activate or not the weekly tranches of broadcast remains at its sole discretion.
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The agreement signed with Tobam also provides that the titles issued in this context will be immediately placed on the market via a third -party broker, guaranteeing their liquidity and the absence of structural impact on floating capital.
Unlike a conventional capital increase, no massive fundraising takes place upstream. The approach, iterative, allows the company to avoid important discussions often observed in traditional financing operations.
In a context where institutional initiatives around Bitcoin are increasing, The Blockchain Group continues to build a hybrid model, between technological enterprise and digital asset holding. Today it is one of the rare European listed companies to have displayed an assumed and structured Bitcoin strategy, like Strategy or Metaplanet internationally.
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Source: Press release
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