Blockchain Group's Bold $340M Bitcoin Play: Daily Shares Up For Grabs

Paris-Based Firm Teams Up With TOBAM To Pump BTC Holdings

Hang onto your hats, crypto fans! Adam Back's favorite Bitcoin Treasury firm, Blockchain Group, is gunning to pull in a whopping $340 million through a slick 'ATM-type' share sale. Their mission? To supercharge their Bitcoin stash!

Straight from the heart of Paris, this company just dropped a bombshell press release. They're joining forces with asset manager TOBAM to rake in the dough and boost their Bitcoin (BTC) Treasury to the moon. By letting TOBAM snap up ordinary shares issued by Blockchain Group, they're aiming to reel in a cool $340 million to fuel their BTC holdings.

"The Program lets TOBAM dive into our ordinary shares every single day," Blockchain Group spilled. "They just need to shoot us a subscription request after the market shuts down. But hold up, each request comes with pricing and volume limits that dance to the tune of market conditions."

At the time of this mind-blowing report, BTC has rocketed up nearly 2% and is currently chilling at $107,126. Over the last week, it's been on a tear, up nearly 2.5%. If Blockchain Group nails that $340 million, they could be stacking an extra 3171.46 BTC in their Bitcoin Treasury. Right now, they're holding strong with 1,471 BTC ($157.5 million), including 624 BTC snagged in a recent buy and 847 BTC they've been sitting on.

Their plan? It's all about "At The Market" pricing, a hot move usually seen with U.S. companies. Instead of dumping all the shares at once, Blockchain Group is playing it smart, selling shares directly at market prices, in bite-sized chunks, and only up to certain limits.

That means TOBAM can jump into Blockchain Group's ordinary shares every day, just by sending in a request after the market locks up.

According to the press release, they're setting the share price at a limit that's either higher than the closing price or the volume weighted average price of the trading day before TOBAM's request comes in.

Based on the company's latest shareholder meeting, they've greenlit issuing a max of €500 million ($570 million) in nominal value. But, and it's a big but, it'll only happen if the Blockchain Group's board gives it the thumbs up.

Blockchain Group has been all about piling up Bitcoin since November 2024, making history as the first European company to kick off a Bitcoin Treasury.

Ever since Bitcoin hit a mind-blowing new all-time high in May, Bitcoin-focused corporations have been stepping on the gas with their acquisition strategies. Just recently, Metaplanet threw down the gauntlet, vowing to ramp up their Bitcoin Treasury to a staggering 210,000 BTC by 2027.