The Blockchain Group to raise $8.3 million through share issuance to expand bitcoin holdings

The Blockchain Group, Europe's first bitcoin treasury company, announced today a capital increase plan totaling €7.2 million ($8.3 million) as part of its $342 million at-the-market-style program to acquire more bitcoin.

In a statement released today, the company, listed on Euronext Growth Paris, announced its intention to raise capital by issuing about 1.6 million new ordinary shares at an average subscription price of around €4.49 ($5.19) per share.

The capital increase plan follows the company's announcement last week of a €300 million ($342.5 million) ATM program with TOMAB, a French asset manager and a shareholder in the company.

Last Friday, the company also announced an equity and convertible bond issuance for about €9.7 million ($11.2 million) to further its bitcoin treasury strategy.

The company currently holds 1,471 BTC, according to data from Bitcointreasuries.net.

The Blockchain Group's stock has fallen over 4% since opening, currently trading at €5.53 at the time of writing, according to Euronext data . The stock is still trading.

The Blockchain Group is among a growing number of companies stockpiling bitcoin. Strategy, led by Michael Saylor, remains the largest publicly traded corporate holder of bitcoin, with total holdings reaching 592,100 BTC following its 10,100 BTC purchase announced Monday.

Bitcoin edged down 0.42% in the past 24 hours to trade at $106,629, according to The Block's bitcoin price page .