Shares in The Blockchain Group, Europe’s first publicly listed Bitcoin treasury company, surged following shareholder approval for a landmark €10 billion capital raise aimed at increasing its Bitcoin holdings significantly.
At its Annual General Meeting held on June 10, the company secured broad shareholder backing to implement the financing strategy. According to news reports quoting company filings, approximately 39% of shareholder voting rights backed the plan, with an exceptionally strong >95% of votes cast in favour.
The approval empowers the Board of Directors to issue various securities, including ordinary shares and preference shares, to raise funds from public or private markets without preferential subscription rights to existing shareholders at their discretion.
This capital raising capacity will enable The Blockchain Group to acquire more Bitcoin opportunistically, accelerating its accumulation strategy and positioning it as a major institutional buyer in the European market.
CEO Jean-Philippe Casadepax-Soulet expressed gratitude for the shareholder trust and highlighted the rationale:
“This approval allows us to accelerate our Bitcoin Treasury strategy, focused on increasing the number of bitcoins per share on a fully diluted basis over time,” he stated.
The company’s objective is central: increasing the Bitcoin reserves backing each share without diluting ownership for existing shareholders, thereby offering greater exposure to a tangible hard asset within its equity structure.
Currently holding 1,471 BTC (valued at ~€160 million), The Blockchain Group recently added 624 BTC (~€69 million), largely funded through prior capital increases, showcasing a progressive accumulation phase.
The enhanced financial powers further include the authority to issue warrants, convertible bonds, and other instruments alongside shares, providing flexibility to optimize funding costs and align capital structure with evolving market conditions.
This announcement builds upon an existing €300 million stock-issuance facility agreed earlier with asset manager TOBAM, which allows market-based funding.
Strategic personnel changes followed the capital approval; Alexandre Laizet was elected as a board member and appointed Deputy CEO specifically charged with overseeing the company’s Bitcoin strategy. His new role underscores the long-term, asset-focused direction.
Laizet’s mandate highlights the importance of Bitcoin within The Blockchain Group’s broader operations, which also encompass subsidiaries active in data intelligence, AI consulting, and decentralized technology.
