The Blockchain Group Launches €300 Million Bitcoin-Backed Capital Program

The program, dubbed an “ATM-type” or “At The Market” facility, is aimed at accelerating the firm’s BTC acquisition strategy.

Strategic Partnership with TOBAM

TOBAM, a long-standing investor in The Blockchain Group and a leader in digital asset management since 2017, will serve as the exclusive subscriber in this program. The capital raise will be deployed in tranches, allowing TOBAM to acquire ordinary shares in the company daily, based on favorable market conditions.

Capital Raise Mechanics

Under the program, TOBAM can submit purchase requests at the end of each trading day. The share price for each tranche will be determined using the higher of either:

The closing market price of the prior day, or The volume-weighted average price (VWAP) of the same day.

However, to prevent market disruptions, each request is capped at 21% of the trading volume from the preceding day.

Bitcoin Treasury Expansion

The ATM structure is designed to help The Blockchain Group steadily increase the number of bitcoins it holds per share over time, boosting shareholder value and reinforcing its position as a Bitcoin treasury leader in Europe.

This move aligns with a broader trend among corporate treasury-focused firms leveraging dynamic equity tools to acquire Bitcoin without destabilizing their share price.

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