PANews reported on May 21 that according to Bitcoin Magazine, The Blockchain Group (ALTBG), a company listed on Euronext Paris, raised 8.6 million euros through private placement and private placement to accelerate its Bitcoin reserve strategy. The issue price was 1.279 euros per share, a 20.18% premium over the 20-day average price, but a 46.26% discount over the closing price on May 19.

Investors include Robbie van den Oetelaar, TOBAM Bitcoin Opportunity Fund and Quadrille Capital. The company said the funds will be used to increase its holdings of Bitcoin and develop data intelligence, artificial intelligence and decentralized technology subsidiary businesses. Previously, on May 12, the company also raised 12.1 million euros by issuing convertible bonds to Blockstream CEO Adam Back.