Shareholders of The Blockchain Group approved all proposed resolutions at the company’s Ordinary and Extraordinary General Meeting on Tuesday, paving the way for a potential capital increase of over €10 billion aimed at expanding its Bitcoin-focused strategy.
The vote grants the Board of Directors broad financial authority to issue shares or securities that grant access to capital, with or without preferential subscription rights. The resolutions passed with more than 95% of the vote, according to the company.
The meeting was attended by shareholders holding 43.3 million voting rights, representing approximately 39% of the company’s total 111 million outstanding shares with voting rights.
Funding Strategy Tied to Bitcoin Holdings
The company, which describes itself as Europe’s first Bitcoin Treasury Company, intends to use the expanded capital-raising capacity to increase the number of Bitcoins per share on a fully diluted basis over time. The Board now has the power to issue new securities through public offerings or targeted placements, depending on market conditions.
The Blockchain Group currently operates subsidiaries involved in data intelligence, artificial intelligence, and decentralized technology consulting. Its stated strategy includes integrating Bitcoin into its broader financial and operational plans.
Jean-Philippe Casadepax-Soulet, CEO of The Blockchain Group, said the approvals will help the company continue executing its capital strategy while maintaining focus on its core technology operations.
New Director and Deputy CEO Appointed
Shareholders also approved the appointment of Alexandre Laizet to the company’s Board of Directors for a six-year term ending in 2030. In addition to his role as a director, Laizet will serve as Deputy Chief Executive Officer, responsible for overseeing Bitcoin strategy.
Laizet’s appointment is effective immediately. The company did not disclose further details about his previous experience or responsibilities.
The Blockchain Group has not yet announced a timeline for when it plans to exercise its new capital-raising authority or initiate offerings. However, the meeting’s outcome gives the company flexibility to act swiftly in response to market developments or investment opportunities aligned with its Bitcoin Treasury goals.
