Swedish Firm H100 Secures Position as Europe's Second-Largest Bitcoin Holder Following Major 2,455 BTC Acquisition
Following the completion of a major acquisition deal involving 2,455 BTC, Swedish company H100 increased its Bitcoin reserves by over three times, reaching a total of 3,506 BTC.
H100 Group, a Swedish-listed company operating in both the health-tech sector and Bitcoin treasury management, has finalized its purchase of Norwegian Bitcoin firms that possessed 2,455 Bitcoin (BTC), resulting in its Bitcoin holdings surging more than threefold to reach 3,506 BTC.
No cash payment was required for the deal, as H100 instead distributed 790.5 million newly created shares to those selling the companies, according to a press release issued by the firm on Monday.
The fresh share issuance resulted in approximately 70% dilution for current shareholders. The company valued these newly created shares at 1.86 Swedish kronor ($0.20) per share, bringing the overall transaction value to roughly 1.47 billion kronor ($155 million).
According to H100's statement, the transaction value was determined using a 1:1 "Bitcoin-for-Bitcoin" methodology, where the quantity of shares distributed was based on the sellers' relative portion of the total Bitcoin assets held by both H100 and the companies being acquired. The calculation methodology deliberately omitted other assets and liabilities from consideration.
With this acquisition complete, H100's Bitcoin asset value now stands at approximately $228 million, positioning the company as Europe's second-biggest Bitcoin treasury holder based on total holdings, trailing only Germany's Bitcoin Group SE which possesses 3,605 BTC, as reported by BitcoinTreasuries.
The initial announcement of the acquisition came in March, when H100 entered into a letter of intent agreement to purchase the privately owned Norwegian Bitcoin enterprises Moonshot and Never Say Die, together with the Bitcoin reserves they controlled.