The Blockchain Group Secures €63.3M Convertible Bond Financing to Boost Bitcoin Treasury

The Blockchain Group (ALTBG), a Paris-based firm specializing in decentralized technology and data intelligence, has successfully raised €63.3 million ($71.9 million) through a convertible bond issuance aimed at expanding its bitcoin (BTC) reserves.

Conducted via its Luxembourg subsidiary, this strategic financing effort signals the company’s commitment to strengthening its bitcoin treasury and enhancing shareholder confidence.

A standout feature of the funding round includes a $5.7 million BTC-pegged bond acquired by Moonlight Capital, priced at a 30% premium over the May 23 closing price of $4.30 per share.

Furthermore, The Blockchain Group completed the full exercise of Convertible Bonds B-02 (“OCA Tranche 2”) by key strategic investors Fulgur Ventures and UTXO Management at $0.79 per share, amounting to $66 million.

Notably, prominent investor Adam Back converted all of his OCA Tranche 1 bonds into 14.88 million shares, signaling a strong endorsement of the company’s long-term strategy.

The new capital is expected to fund the purchase of roughly 590 bitcoins, potentially lifting The Blockchain Group’s total bitcoin holdings to about 1,437 BTC.