The Blockchain Group Targets $340M Raise for Bitcoin Treasury Expansion
France-based firm already holds $154M in BTC, calling itself Europe’s first Bitcoin treasury operation.
Paris-based crypto firm The Blockchain Group has unveiled plans to raise over $340 million to grow its Bitcoin treasury, highlighting a continued rise in institutional Bitcoin activity across Europe.
According to a June 3 press release, The Blockchain Group—self-described as Europe’s first Bitcoin treasury company—is aiming to raise 300 million euros (approximately $342 million) for additional Bitcoin acquisitions.
The fundraising strategy is modeled after the U.S. “At the Market” (ATM) structure, where shares are sold under market conditions set by a counterparty, within an agreed volume range.
The funding will be executed in several phases. Each tranche’s pricing will be based on the higher of either the previous day’s closing price or the volume-weighted average price, and is limited to 21% of that day’s total trading volume, the company noted.
The announcement comes shortly after The Blockchain Group purchased $68 million worth of Bitcoin, increasing its total holdings to 1,471 BTC—worth more than $154 million as of the latest update from Cointelegraph on June 3.
Other major Bitcoin-holding firms are also pursuing fresh capital to expand their reserves.
On May 31, Michael Saylor’s Strategy revealed plans to raise nearly $1 billion via a stock offering to fund additional Bitcoin purchases, significantly up from its earlier $250 million target.
Strategy is currently the largest corporate Bitcoin holder in the world, managing over $61 billion in BTC, which amounts to 2.76% of the total supply, according to data from Bitbo.
Institutional Treasury Activity Sustains Bitcoin Market Strength
Bitcoin has seen a period of sideways trading after hitting a new all-time high of $112,000 on May 22.
Despite the pullback, institutional activity and corporate treasury strategies continue to support the broader bullish market outlook, said Stella Zlatareva, editor at Nexo dispatch.
“Strategic buys, treasury allocations and infrastructure investment paint a picture of long-term confidence — regardless of short-term price action.”
She also noted that Bitcoin’s recovery from the $103,000 support level reflects market resilience, with no indications of widespread deleveraging or forced liquidations.
However, while corporate accumulation remains strong, spot Bitcoin ETFs in the United States have faced difficulty in sustaining inflows.
On May 31, U.S.-listed Bitcoin ETFs recorded $47 million in outflows, marking the second straight day of net redemptions following $278 million in withdrawals the previous day, data from Farside Investors shows.
