Paris Blockchain Group announced today the launch of a 342 million euro (approximately 342 million US dollars) equity offering plan, aiming to raise funds through a private placement for increasing its holdings of Bitcoin. The plan has been pre-approved by the French Financial Markets Authority (AMF) and is expected to complete the entire issuance process in the third quarter.
According to The announcement, this issuance will adopt the “ATM-style” dynamic offering mechanism (ATM-the Market offering), that is, new shares will be sold in batches through the real-time bidding system of Euronext Paris. The company promises that the issuance speed will not exceed 20% of the total share capital and will disclose the progress of the coin purchase on a weekly basis. Based on the current market price of Bitcoin at $105,000 per coin, this sum of money can purchase approximately 3,250 Bitcoins, increasing its total holdings from the current 1,471 to 4,721, with a total market value exceeding $500 million.
This is another major move by the Blockchain Group following its purchase of 624 Bitcoins on June 3rd. Its share price has soared by 1,400% in the past six months, and its market value has exceeded 1.2 billion euros, making it the Bitcoin listed company with the highest market value in Europe. CEO Pierpierre Luc Pouliot said in a statement: “This financing is a deepening of the ‘European Bitcoin Reserve’ strategy, and we will build a digital asset moat to compete with US enterprises.”
It is worth noting that this issuance may lead to a dilution of equity by approximately 15%, but the company emphasizes that it will offset the dilution effect through an increase in the “Bitcoin content per share”. Independent analyst James West pointed out: “This’ stock for Bitcoin ‘model is the first of its kind in Europe. If successful, it will provide a new paradigm for the encryption of balance sheets for medium-sized enterprises.”
At present, the total holdings of Bitcoin by European listed companies are approximately 28,000, which is less than one fifth of that of American enterprises. The aggressive strategy of the blockchain group is regarded as a hedge against the European Central Bank’s digital currency (CBDC) plan. Data from the French Crypto Asset Association (AFIC) shows that in the first quarter of 2025, European institutions’ investment in Bitcoin increased by 210% year-on-year, but it was mainly concentrated in hedge funds and family offices. Active allocation by listed companies remains rare.
The joint underwriters for this issuance include Societe Generale and Coinbase’s Institutional services department. This is the first time that a traditional investment bank and a crypto platform have collaborated in European equity financing. After the transaction is completed, Blockchain Group will become the world’s third-largest holder of Bitcoin from a publicly traded company after Strategy (582,000) and Tesla (194,000).
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