Blockchain Group has announced the raising of €3 million to increase its Bitcoin reserves. This move aims to enhance the company's Bitcoin-per-share ratio.
Fundraising
The company raised approximately €3 million through a capital increase under an "ATM-type" agreement with TOBAM, issuing 739,000 new shares at an average price of €4.056 per share. The proceeds are intended for acquiring an additional 25 BTC.
Shareholder Structure
Currently, public and institutional investors hold about 74% of the company's shares. Fulgur Ventures is set to become the largest shareholder with a 45% stake, followed by executives, Adam Back, TOBAM, and UTXO Management.
Increase in Bitcoin Reserves
With the new capital, the company's total Bitcoin reserves could rise to 1,929 BTC. This follows the recent acquisition of 116 Bitcoin for €10.7 million, indicating the company's aggressive accumulation strategy.
The fundraising by Blockchain Group is a crucial step in fortifying its position as a Bitcoin accumulation-focused company, reflecting increasing interest in this asset.
