PANews reported on May 13 that, according to Bitcoin Magazine, the European listed company The Blockchain Group (ALTBG) completed two rounds of financing totaling over 22 million euros within a week. On May 9, it raised 9.9 million euros through equity financing, with the issuance price at a 61.7% premium over the average price of the previous 20 days. Investors included Tobam, Generali Ambition Solidaire, Jean-Marie Formigé, Quadrille Capital, EFG Bank, VP Bank, and others. On May 12, it issued 12.1 million euros in Bitcoin-denominated convertible bonds through its Luxembourg subsidiary, fully subscribed by Blockstream CEO Adam Back, with the issuance price at a 30% premium over the first batch conversion price.
The funds will be used to strengthen Bitcoin holdings and develop subsidiary businesses in data intelligence, AI, and more. As a core member of 'Bitcoin For Corporates', the company explores capital structure innovations centered around Bitcoin, including Bitcoin-denominated bonds and hard asset reserve strategies.
