Blockchain Group Announces $300 Million Program to Secure Additional Bitcoin

The Blockchain Group, Europe's first Bitcoin financial strategy company
Group launches €300 million (approximately $342.5 million) ATM share issuance program
On the 9th (local time), The Blockchain Group cooperated with French asset management company TOBAM to launch an ATM-type program with a scale of 300 million euros.
The program is part of the company's core strategy of "Bitcoin Treasury Funding."
The purpose of the deal is to accelerate our "Earnings from a Discounted Shareholders Strategy," which will increase our earnings per share on a fully diluted basis over time.
The aim is to increase the number of bitcoins held by each shareholder. Blockchain Group is currently listed on Euronext Growth Paris.
TOBAM is a company listed on the Stock Exchange Ext Growth Paris, and with this agreement TOBAM has entered into a standby capital increase agreement which allows it to request new shares at market price.
Major shareholders include Fulger Ventures, David Bailey's UTXO Management, and Blockstream CEO Dr. Adam
According to the agreement, TOBAM can request new shares after the end of each trading day, at the price of the previous day's closing price or the volume-weighted average price.
The program will be set at the higher of the two options, but will be capped at 21% of the daily trading volume. The program can be issued in instalments of up to €300 million and will have an initial validity of six months.
The company said that the board of directors and TOBAM can decide whether to extend or renew the agreement.
The Group will disclose the number of shares issued, the price, the timing of issuance, and the amount of Bitcoin acquired and the Bitcoin per share.
We plan to periodically release these numbers to the market and will immediately announce if the program is suspended, terminated, or the terms are changed.
The announcement comes as the Blockchain Group announced that it had invested a total of 624 BTC last week.
This comes on the heels of the company revealing that it had purchased 1,471 BTC for approximately $68.7 million, increasing the company's total holdings to 1,471 BTC, or roughly $158 million in current terms.