The Blockchain Group Raises $71.9M for Bitcoin Expansion
Finance/Markets

The Blockchain Group Raises $71.9M for Bitcoin Expansion

The Blockchain Group has successfully raised funds to reinforce its Bitcoin treasury strategy, aiming to enhance investor confidence.

The Blockchain Group (ALTBG), a company listed in Paris and focusing on data intelligence and decentralized technologies, has successfully issued $71.9 million in convertible bonds aimed at strengthening its Bitcoin treasury strategy. This initiative seeks to expand Bitcoin reserves significantly and improve the company’s investor base.

Key Highlights:

  • The firm has raised €63.3 million in convertible bonds aimed at bolstering its Bitcoin strategy.
  • Moonlight Capital subscribed to a $5.7 million BTC-denominated bond at a premium of 30%.
  • Investor Adam Back has converted his bonds into 14.88 million shares, signifying his alignment with the company’s long-term objectives.

This financing transaction was implemented through its subsidiary in Luxembourg, marking a decisive move toward enhancing its Bitcoin assets and instilling greater confidence among its investors. The capital raised will facilitate the acquisition of 590 BTC, potentially boosting The Blockchain Group’s total Bitcoin holdings to around 1,437 BTC.

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