Capital B, also known as The Blockchain Group, a France-based publicly listed company, announced on March 23, 2026, the completion of a capital increase and warrant issuance that enabled the acquisition of 44 additional Bitcoin. The firm now holds a total of 2,888 BTC, valued at approximately $309.34 million (€267.1 million) based on acquisition cost. The capital raise totaled $4.05 million (€3.5 million), with $3.12 million (€2.7 million) specifically allocated to the Bitcoin purchase.
Capital Raise and Partners
Capital B executed an "ATM-type" capital increase in partnership with TOBAM, issuing new shares at €1.70 per share, alongside the issuance of share subscription warrants to UTXO Management. The company is headquartered in Puteaux, France, and listed on Euronext Growth Paris under the ticker ALCPB. This transaction does not require a prospectus subject to approval by the French Financial Markets Authority (AMF).
Bitcoin Treasury Performance
As of the announcement date, Capital B’s total Bitcoin acquisition cost is €267.1 million (≈$309.34 million). The year-to-date BTC yield stood at 0.72%, with a cumulative gain of 20.4 tokens. The French entity continues to execute a Bitcoin treasury strategy reminiscent of MicroStrategy's approach, using equity financing to steadily accumulate digital assets.
The combined holdings of Capital B and its Luxembourg subsidiary now amount to 2,888 BTC. The company focuses on data intelligence and decentralized technology, and this capital increase is intended to further strengthen its Bitcoin reserves. Prior to this acquisition, Capital B had completed several smaller purchases in 2026, but this is the largest single addition so far.
Market Implications
Capital B is one of the few publicly traded companies in Europe that actively holds Bitcoin as part of its corporate treasury. Its strategy has attracted attention from institutional investors. The involvement of specialized crypto asset managers like TOBAM and UTXO Management in this round underscores the deepening integration between traditional financial markets and the cryptocurrency space. The continued expansion of Bitcoin holdings also reflects an increasing acceptance of digital assets among listed companies under French regulatory frameworks.