The Blockchain Group to Raise $340 Million to Expand Bitcoin Treasury

The Blockchain Group — a Paris-based crypto company — has announced a plan to raise $340 million to expand its Bitcoin reserves, marking a new step in the wave of institutional crypto adoption across Europe.

According to a June 3 announcement, the company aims to raise 300 million euros (approximately $340 million) to purchase additional Bitcoin. The fundraising will follow the “At the Market” (ATM) model commonly used in the U.S., where shares are issued in tranches at market-driven prices. The pricing will be based on the previous day’s closing price or the volume-weighted average price, with a cap of 21% of that day’s total trading volume.

Currently, The Blockchain Group holds 1,471 Bitcoins, valued at over $154 million, and claims to be Europe’s first Bitcoin treasury company. Just a week earlier, the firm had acquired an additional $68 million worth of BTC.

Other institutional players are also boosting their Bitcoin holdings. Michael Saylor’s firm recently announced plans to raise nearly $1 billion via a stock offering to fund more BTC purchases — quadrupling its original $250 million target. Saylor’s company is the world’s largest corporate Bitcoin holder, with over $61 billion in BTC, representing 2.76% of total global supply.

After reaching an all-time high of $112,000 on May 22, Bitcoin has entered a period of price consolidation. However, according to Stella Zlatareva of Nexo, strategic treasury moves and infrastructure investments are reinforcing long-term confidence in the asset, despite short-term volatility. She noted Bitcoin’s strong rebound from the $103,000 support level, showing no signs of mass liquidations or forced selling.

Despite the bullish outlook, U.S.-listed Bitcoin ETFs have recently struggled to maintain inflows. On Friday alone, the funds saw over $47 million in net outflows, following $278 million in withdrawals the previous day, according to data from Farside Investors.