H100 of Sweden Reveals $26M First-Half Deficit Amid Bitcoin Valuation Decline
Swedish firm H100 disclosed a first-half deficit of $26 million driven by declining Bitcoin valuations, even as the company completed strategic acquisitions to secure its position as the continent's second-biggest BTC treasury holder.
H100 Group, a Swedish-listed company operating in health technology and Bitcoin treasury management, disclosed a pre-tax deficit of 98 million Swedish kronor ($10.3 million) during the second quarter, while the entire first half of 2026 saw losses totaling 253 million kronor.
The company additionally posted operating income of 3 million kronor, remaining unchanged from Q2 2025 figures, while the first half of 2026 generated 6.1 million kronor in operating income, representing an increase from the 5.8 million kronor recorded during H1 2025, as stated in the interim report released on Wednesday.
The overwhelming majority of the second-quarter deficit consisted of a non-cash write-down resulting from the declining price of Bitcoin (BTC) throughout the quarter, as the company explained in a Wednesday statement posted on X.
Earlier in August, H100 achieved the status of Europe's second-largest Bitcoin treasury company following its acquisition of two smaller Norwegian firms specializing in Bitcoin treasury management, together with their digital currency reserves.
The acquisition transaction elevated H100's total Bitcoin reserves to 3,506 BTC, valued at approximately $226 million, positioning the company as Europe's second-largest holder of Bitcoin treasuries, trailing only Germany's Bitcoin Group which holds 3,605 BTC, based on data from BitcoinTreasuries.
Shares of H100 Group experienced a 4.2% decline on Tuesday, continuing its year-to-date downward trend of 24%, based on information from StockAnalysis data.