PANews reported on May 13 that according to Bitcoin Magazine, the European listed company The Blockchain Group (ALTBG) completed two rounds of financing totaling more than 22 million euros within a week. On May 9, it raised 9.9 million euros through equity financing, with an issue price that was 61.7% higher than the 20-day average price. Investors included Tobam, Generali Ambition Solidaire, Jean-Marie Formigé, Quadrille Capital, EFG Bank, VP Bank, etc. On May 12, it issued 12.1 million euros of Bitcoin-denominated convertible bonds through its Luxembourg subsidiary, which was fully subscribed by Blockstream CEO Adam Back, and the issue price was 30% higher than the first batch of conversion prices.
The funds will be used to strengthen Bitcoin holdings and develop subsidiary businesses such as data intelligence and AI. As a core member of "Bitcoin For Corporates", the company explores Bitcoin-centric capital structure innovations, including Bitcoin-denominated bonds and hard asset reserve strategies.
