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Paris-listed tech firm The Blockchain Group has raised €63.3 million through convertible bonds to expand its Bitcoin treasury. The issuance was completed by its Luxembourg subsidiary and is expected to fund the purchase of around 590 BTC bringing total holdings to nearly ,1437 BTC. The company plans to use 95% of the funds for Bitcoin and 5% for operations.
Major backers included Fulgur Ventures with €55.3 million UTXO Management with €3 million and Moonlight Capital with €5 million. The bonds are convertible into company shares at varying prices depending on the tranche.
The Blockchain Group began buying Bitcoin in November 2024 and reported a 709% return on those holdings. Its long-term goal is to own 1% of Bitcoin’s total supply or about 170,000 BTC by 2032. The company’s stock has surged over 1,350% since adopting Bitcoin and continues to gain momentum alongside a growing number of firms shifting to Bitcoin as a core treasury asset.
