The Blockchain Group has raised over 22 million euros in funding to accelerate its Bitcoin funding strategy

According to Bitcoin Magazine, European listed company The Blockchain Group (ALTBG) completed two rounds of financing totaling over 22 million euros within a week. On May 9th, it raised 9.9 million euros through equity financing, with an issue price 61.7% higher than the average price on the 20th. Participants include Tobam, Generali Ambition Solidaire, Jean Marie Formig é, Quadrille Capital, EFG Bank, VP Bank, and others. On May 12th, another 12.1 million euros worth of Bitcoin denominated convertible bonds were issued through a subsidiary in Luxembourg, fully subscribed by Blockstream CEO Adam Back, at a premium of 30% over the first batch of conversion prices. The funds will be used to strengthen Bitcoin holdings and develop subsidiary businesses such as data intelligence and AI. As a core member of 'Bitcoin For Corporates', the company is exploring capital architecture innovations centered around Bitcoin, including Bitcoin denominated bonds and hard asset reserve strategies.