Capital B, the Paris-listed bitcoin treasury company formerly known as The Blockchain Group, will consolidate every 10 existing shares into one new share beginning September 8, according to a regulatory filing published Monday.
The reverse split will reduce outstanding shares from 300,650,632 to 30,065,063. The par value of new shares will rise to €0.80 from €0.08. Capital B projects the consolidated shares will open at €4.80 per share, compared to the current trading price of €0.48.
Capital B framed the restructuring as a “purely technical exchange” designed to “support the company’s institutional development and to open the company’s shares to a broader universe of investors.” Many institutional funds operate under internal rules barring holdings of stocks below a set price threshold. A higher quoted price per share removes barriers to institutional participation.
Timeline and Trading Impact
Final trading of existing shares occurs September 7. The reverse split period runs from August 6 through September 7. A pause on convertible bond conversions and warrant exercises begins August 17 and ends September 10 after settlement and delivery.
Capital B’s share price has declined 40 percent since the start of 2026. The reverse split does not add bitcoin to the balance sheet or raise new capital on its own.
Bitcoin Holdings and Recent Acquisitions
Capital B holds 3,139 BTC, according to BitcoinTreasuries.net. The company acquired 192 BTC in May 2026 for €13 million after completing three capital raises during the first half of the year.
Shareholders approved authority for €5 billion in capital increases and €100 billion in credit instruments in June 2026, with 95 percent support for both resolutions. Capital B measures progress through bitcoin held per fully diluted share rather than total reserves alone.
Product Development
Capital B is developing a bitcoin-backed credit product for the European market. The company has not set a launch date for the product.
Capital B describes itself as Europe’s first bitcoin treasury company and trades on Euronext Growth Paris.
