Future Holdings AG, a Swiss-based Bitcoin treasury company co-founded by cryptography pioneer Adam Back, has signed a non-binding letter of intent with Sweden-listed H100 Group for a full acquisition. The transaction values Future at roughly 600,000 Swiss francs ($753,000), including the company’s cash balance, with payment expected in newly issued H100 shares at the closing price. Richard Byworth, chairman of Future Holdings, said the combination provides a public-market platform and governance framework critical for institutional credibility in Switzerland.
Future Holdings launched in November 2025, raising $35 million for its Bitcoin treasury, and has been supported by Back via a $2.1 million convertible loan, with an option for an additional $12.8 million. The deal is part of H100’s broader strategy to expand beyond the Nordic region and establish a leading Bitcoin treasury and financial platform across Europe.
Completion of the transaction is expected in January 2026, subject to due diligence, regulatory approvals, and definitive agreements. Analysts view the H100-Future combination as a strategic move to provide a European base for institutional Bitcoin allocation and capital management.
