The Blockchain Group completes over 22 million euros in financing to accelerate its Bitcoin funding strategy

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