H100 Surges to Europe’s Second-Largest Bitcoin Treasury Following Norwegian Acquisition
Sweden-based H100 Group has more than tripled its Bitcoin holdings to 3,506 BTC through an all-stock acquisition of Norwegian Bitcoin firms, establishing itself as Europe's second-largest corporate Bitcoin treasury.
H100 Triples Bitcoin Holdings Through Norwegian Acquisition
Sweden-listed H100 Group has significantly expanded its Bitcoin reserves by completing an acquisition of Norwegian Bitcoin companies, adding 2,455 BTC to its treasury. The deal brings H100’s total holdings to 3,506 BTC—more than triple what it held before the transaction.
Rather than using cash, H100 structured the acquisition as an all-stock transaction. The company issued approximately 790.5 million new shares to the sellers at 1.86 Swedish kronor each, or roughly $0.20 per share. The total deal value reached approximately 1.47 billion Swedish kronor, equivalent to about $155 million. Notably, the share issuance was calculated on a one-to-one Bitcoin-for-Bitcoin basis, with each seller receiving shares proportional to their portion of the combined Bitcoin holdings across both entities.
The acquisition targeted two privately held Norwegian firms—Moonshot and Never Say Die—which H100 first announced plans to acquire in March through a letter of intent. At current prices, H100’s expanded Bitcoin holdings represent approximately $228 million in assets. The transaction diluted existing shareholders by roughly 70%, a substantial but accepted consequence of the growth strategy.
Establishing Dominance in Europe’s Bitcoin Treasury Landscape
Following completion, H100 now ranks as Europe’s second-largest Bitcoin treasury company by holdings. The company trails only Germany-based Bitcoin Group SE, which maintains 3,605 BTC, according to BitcoinTreasuries data. The ranking reflects a broader institutional trend as traditional companies increasingly accumulate Bitcoin as a strategic asset.
H100’s positioning as a health-tech firm with major Bitcoin holdings represents a hybrid corporate model—combining operational business activities with cryptocurrency treasury management. The acquisition demonstrates competitive momentum among European firms building substantial cryptocurrency reserves and validates innovative financing approaches that use equity rather than cash to acquire Bitcoin holdings.
The consolidation underscores growing confidence in Bitcoin’s role as a corporate store of value, particularly among European institutions seeking treasury diversification.
Source: H100 Group, via Cointelegraph. Not financial advice.