Right now, the company holds 1,471 BTC, which is about $158 million in value. That total includes 624 BTC recently purchased, along with 847 BTC already in its treasury.
Instead of selling all the shares at once, Blockchain Group is going with a method called “At The Market” or ATM, commonly used in the US. In this setup, TOBAM can buy ordinary shares from Blockchain Group one day at a time. The share price will depend on the previous day’s close or the average trading price for that day—whichever is higher.
Based on shareholder decisions, Blockchain Group has the green light to issue up to €500 million ($570 million) in nominal value. But that upper limit will only be tapped if the board gives the go-ahead. For now, the $340 million target stands.
Featured image from Imagen, chart from TradingView
