The Blockchain Group to Pursue Paid-In Capital Increase of Approximately $300 Million for Additional Bitcoin Purchases
Summary
- The Blockchain Group announced that it has signed a paid-in capital increase agreement of €300 million (approximately $340 million) to acquire additional Bitcoin.
- This paid-in capital increase will proceed via an At-The-Market (ATM) issuance, with the aim of increasing Bitcoin holdings.
- The Blockchain Group disclosed that it is continuing to accumulate Bitcoin supply, targeting 1% of the total.
French listed blockchain company The Blockchain Group (ALTBG) has reportedly entered into a paid-in capital increase agreement to further stockpile Bitcoin (BTC).
On the 9th (local time), The Blockchain Group announced in a press release that it had signed a paid-in capital increase agreement worth €300 million ($340 million) with asset management firm TOBAM. The company further explained, "The aim of this agreement is to increase our Bitcoin holdings," and added, "The capital increase will proceed via an At-The-Market (ATM) issuance."
Meanwhile, The Blockchain Group has been consistently accumulating Bitcoin with the goal of securing 1% of the total Bitcoin supply (21 million units) over the next eight years. Previously, on the 3rd, the company made an additional purchase of 624 BTC.
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
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