Sweden’s H100 becomes Europe’s second-largest Bitcoin treasury after acquiring 2,455 BTC via share issuance valued at $155 million.
Sweden-listed H100 Group tripled its Bitcoin holdings to 3,506 BTC after acquiring Norwegian Bitcoin companies in a share-based transaction. The deal involved no cash, with H100 issuing 790.5 million new shares at $0.20 each, valuing the transaction at $155 million.
The acquisition, announced in March, targeted Moonshot and Never Say Die, two privately held Norwegian firms. The 2,455 BTC acquired were exchanged on a 1:1 Bitcoin-for-Bitcoin basis, excluding other assets. Existing shareholders faced a 70% dilution from the new shares.
H100’s Bitcoin holdings are now worth approximately $228 million, ranking it second in Europe behind Germany’s Bitcoin Group SE, which holds 3,605 BTC.