H100 Group triples Bitcoin treasury, becomes Europe’s second‑largest holder

Swedish health‑tech firm H100 Group announced that it has completed a deal to acquire Norwegian Bitcoin companies holding 2,455 BTC, raising its total treasury to 3,506 BTC. The transaction was settled entirely with newly issued shares rather than cash, with H100 creating 790.5 million shares priced at 1.86 Swedish kronor (approximately $0.20) each, valuing the deal at roughly 1.47 billion kronor ($155 million).

Because the share issue represents about 70 % of the company’s outstanding equity, existing shareholders saw their stakes significantly diluted. H100 explained that the share allocation was based on a one‑for‑one “Bitcoin‑for‑Bitcoin” exchange, where the number of shares each seller received corresponded to their proportion of the combined Bitcoin holdings of H100 and the acquired entities, excluding other assets and liabilities.

The expanded Bitcoin reserve now amounts to about $228 million, positioning H100 as the second‑largest Bitcoin treasury in Europe, according to data from BitcoinTreasuries. It trails Germany’s Bitcoin Group SE, which holds 3,605 BTC. H100 first disclosed its intention to pursue the acquisition in March, when it signed a letter of intent to buy privately held Norwegian firms Moonshot and Never Say Die along with their Bitcoin assets.

The move underscores a growing trend of publicly listed companies using cryptocurrency holdings as a strategic asset, potentially influencing investor perception of Bitcoin’s role in corporate balance sheets. It also highlights the increasing consolidation within the niche market of Bitcoin treasury firms across Europe.