France-listed Bitcoin treasury company Capital B’s shareholders approved authorizations allowing the company to raise up to 105 billion euros ($120.4 billion) to fund future Bitcoin purchases.
Over 95% of shareholders approved the establishment of up to 5 billion euros in capital increases, equivalent to as many as 125 billion new shares at the current nominal value, as well as the issuance of up to 100 billion euros in credit instruments, Capital B announced on Wednesday.
The company said the issuance of the new capital instruments will “accelerate its Bitcoin accumulation strategy, focused on increasing the number of Bitcoin per fully diluted share over time.”
During its general meeting on Wednesday, Capital B reported 300.65 million in total shares with voting rights. If fully exercised, issuing 125 billion in new shares would result in existing shareholders being diluted to about 0.24% of the company’s ownership.
Shareholders also approved changing the company’s name from The Blockchain Group to Capital B, aligning its corporate name with the commercial brand adopted in 2025.
Source: Capital B
Capital B shares were little changed following the announcement, according to Yahoo Finance data.
Crypto treasury companies take different approaches
Capital B is Europe’s second-largest Bitcoin treasury company, holding 3,139 BTC, currently valued at $200 million. It ranks behind Germany-based Bitcoin Group SE, which holds 3,604 Bitcoin, currently worth $230 million, Bitcoin Treasuries data shows.
To date, Capital B said it raised about $325 million in capital, following its $17.8 million raise from strategic investors, including Blockstream CEO Adam Back and Paris-based asset manager TOBAM.
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The fundraising initiative contrasts with moves by some treasury companies to reduce or actively manage their Bitcoin exposure.
On May 28, France-based semiconductor company Sequans Communications said it had concluded its previously announced crypto treasury strategy. The company held 658 Bitcoin and said it would “monetize remaining holdings over time,” which led to a share price increase of about 14.5%.
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