H100 Shareholders Authorize Deal to Expand Bitcoin Treasury Threefold
Following shareholder approval of a critical acquisition requirement, the Swedish health-tech firm has advanced toward securing a position among Europe's top publicly listed companies holding Bitcoin in corporate reserves through its purchase of two Norwegian investment entities.
H100's shareholders have given their consent to the share issuance required to finalize the company's purchase of Moonshot AS and Never Say Die AS, satisfying a crucial prerequisite for a deal that will grow its Bitcoin reserves from 1,051 BTC to around 3,500 BTC.
The green light enables H100, a health technology enterprise listed on the Nordic SME market, to purchase the two Norwegian investment companies, which together possess approximately 2,450 Bitcoin, through the issuance of new H100 equity. According to the terms revealed in March, the proprietors of Moonshot and Never Say Die are set to gain majority control of H100, securing approximately 70% ownership of the merged entity once the transaction concludes.
The transaction has been arranged as an equity-for-equity exchange without any cash payment, with stakes in the merged company determined by the volume of Bitcoin (BTC) each participant contributes.
Should the acquisition reach completion, H100's Bitcoin holdings would grow to roughly 3,500 BTC, potentially positioning it as Europe's second-largest publicly listed Bitcoin treasury corporation after Germany's Bitcoin Group SE, based on information from BitcoinTreasuries.com.
On Tuesday, H100 shares finished trading 9.6% higher. Notwithstanding this increase, the stock has declined approximately 30% from the beginning of 2026, according to Yahoo Finance data.
BTC treasury companies face pressure
The planned growth of H100's holdings arrives during a period when Bitcoin treasury corporations are encountering a more difficult market landscape after several months of falling cryptocurrency valuations and indications of weakness in certain financing structures employed to fund BTC acquisitions.
During May, Sequans Communications, a semiconductor manufacturer based in France, announced it would discontinue the Bitcoin treasury approach it had implemented fewer than twelve months prior and progressively sell off its remaining assets to concentrate again on its primary Internet of Things semiconductor operations. At that time, the company possessed 658 Bitcoin and indicated it would convert the remaining holdings into cash gradually.
Strategy, which holds the distinction of being the world's biggest corporate Bitcoin accumulator, has encountered difficulties in recent months as well. At the beginning of this month, its preferred stock STRC dropped beneath its designated $100 par value and began trading at a significant discount relative to its liquidation preference.
The corporation's rate of Bitcoin acquisition has decelerated during recent months. Following the purchase of over 34,000 BTC during a single week in April and close to 25,000 BTC within a week in May, the company acquired approximately 1,500 BTC during each of the opening two weeks of June.
CryptoQuant, a market data analytics service provider, stated on Wednesday that the enterprise headed by Michael Saylor ought to halt Bitcoin acquisitions and concentrate on replenishing its cash reserve, which has decreased 38% year-to-date.
They should pause Bitcoin purchases, rebuild cash reserves, and adopt a systematic framework for purchase timing.
Ki Young Ju, CEO of CryptoQuant
The chief executive of CryptoQuant further suggested that the foremost public Bitcoin treasury holder ought to establish a "disciplined selling framework" in preparation for the next bull market.
