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On June 9, 2025, The Blockchain Group<\/a> (Euronext: ALTBG) announced a \u20ac300 million capital increase program in partnership with TOBAM\u2014marking one of the largest flexible funding facilities in the European public markets dedicated to scaling a Bitcoin treasury.<\/p>\n The raise is structured as an \u201cATM-type\u201d (At-The-Market) offering, allowing TOBAM to subscribe daily for ordinary shares at a price based on the higher of the previous day\u2019s closing price or volume-weighted average price (VWAP). Each tranche is capped at 21% of the day\u2019s trading volume. This provides a disciplined mechanism to increase capital over time without disrupting market dynamics.<\/p>\n TOBAM, a Paris-based asset manager, has been a strategic investor in The Blockchain Group since 2017. The firm was among the earliest institutional advocates of Bitcoin as a treasury asset and remains one of Europe\u2019s most innovative capital allocators. This deepened partnership underscores shared conviction in Bitcoin\u2019s long-term value and the importance of financial infrastructure built on hard money principles.<\/p>\n Through this program, TOBAM can allocate capital into ALTBG shares in a way that aligns with market liquidity, ensuring that treasury growth occurs sustainably and with pricing transparency.<\/p>\n For BFC members and observers, this development reflects the growing global standardization of capital tools for Bitcoin-native companies. The ATM structure\u2014commonly used in U.S. equity markets\u2014has now been adapted for European Bitcoin treasury growth. It offers several key advantages:<\/p>\n \u27a4 Precision Timing:<\/strong> Capital can be deployed when conditions are favorable, avoiding the drawbacks of lump-sum raises. The Blockchain Group has been steadily transforming itself<\/a> from a digital services company into a full-fledged Bitcoin Treasury Company. This \u20ac300 million program turns that transformation into a capital engine\u2014one that can convert equity into Bitcoin<\/a> consistently, responsively, and with strategic intent.<\/p>\n It also strengthens Europe\u2019s position in the emerging corporate Bitcoin ecosystem. While most Bitcoin Treasury Companies today are U.S.-based, The Blockchain Group\u2019s playbook offers a model for public firms across Euronext and other international exchanges.<\/p>\n The Blockchain Group isn\u2019t just holding Bitcoin\u2014it\u2019s designing infrastructure to accumulate it over time. With TOBAM\u2019s backing and a flexible ATM program in place, Europe\u2019s first Bitcoin Treasury Company is poised to scale BTC per share<\/a> with precision\u2014one tranche at a time.<\/p>\n Disclaimer:<\/strong>\u00a0This content was written on behalf of Bitcoin For Corporations<\/em>.\u00a0This article is intended solely for informational purposes and should not be interpreted as an invitation or solicitation to acquire, purchase, or subscribe for securities.<\/em><\/p>\n<\/div>\nTOBAM: A Strategic Long-Term Backer<\/h3>\n
What It Means for Bitcoin For Corporations<\/h3>\n
\u27a4 BTC Per Share Focus:<\/strong> The program is explicitly designed to increase the number of bitcoins per share on a fully diluted basis\u2014aligning shareholder and treasury value.
\u27a4 Strategic Flexibility:<\/strong> Instead of relying on traditional fundraising windows, The Blockchain Group now has continuous access to growth capital.<\/p>\nA Treasury Engine, Not Just a Treasury<\/h3>\n