The Blockchain Group (ALTBG) Raises ~€12.1M From Adam Back to Accelerate Its Bitcoin Treasury Company Strategy

Today, The Blockchain Group (ALTBG), listed on Euronext Growth Paris and known as Europe’s first Bitcoin Treasury Company, announced it has raised approximately €12.1 million

Today, The Blockchain Group (ALTBG), listed on Euronext Growth Paris and recognized as Europe's premier Bitcoin Treasury Company, announced a substantial investment of approximately €12.1 million by Adam Back.

This capital injection is set to strengthen and accelerate The Blockchain Group's strategy in its core domain—Bitcoin Treasury Company.

The company's primary objective is to continually increase the number of bitcoin per fully diluted share. While the company's focus is on incrementally growing its bitcoin holdings, its overarching goal is to deliver increasing value per share to its shareholders.

The investment funds were channeled into The Blockchain Group Luxembourg SA, a wholly-owned subsidiary of ALTBG. The bonds subscribed by Adam Back, officially called OCA Tranche 2, are convertible into ALTBG shares at a price of €0.707.

This conversion price carries a premium of roughly 30% compared to Tranche 1, which was issued earlier in March 2025.

The second tranche is part of the original agreement from March. Adam Back had a three-month option to subscribe to this second tranche after Tranche 1.

These convertible bonds grant Adam Back the potential to receive up to 17,176,106 new ALTBG shares, assuming the market conditions for conversion are met.

The conversion can take place at any time if the company's average stock price trades at least 30% above the €0.707 conversion price (which is €0.919) over 20 consecutive trading days.

The bonds have a maturity period of five years, giving both parties a long-term horizon to see value from this deal.

Also noteworthy, the €0.707 conversion price represents a 51.61% discount compared to the company's market price on May 12, 2025.

This makes it a very strategic move, especially considering current price movements and market conditions.

In an update shared on April 30, The Blockchain Group emphasized that their goal is to grow the amount of bitcoin per fully diluted share—not just passively accumulate bitcoin. This investment deal aids in pushing that mission forward.

What stands out here is that the subscription was made entirely in bitcoin, not cash. That choice reflects the company's full commitment to bitcoin and its long-term value.

It also aligns with their stated goal of operating as a true Bitcoin Treasury Company. This new capital will not only help grow their bitcoin holdings but will also support innovation efforts through their subsidiaries working in artificial intelligence, data intelligence, and decentralized technology.