Sweden-listed health-tech and Bitcoin treasury firm H100 Group has finalized its acquisition of two privately held Norwegian Bitcoin companies, adding 2,455 Bitcoin (BTC) to its balance sheet and more than tripling its total holdings to 3,506 BTC.
The transaction, which closed without any cash consideration, saw H100 issue 790.5 million new shares to the sellers. Valued at 1.86 Swedish kronor ($0.20) per share, the deal totals roughly 1.47 billion kronor ($155 million) and results in a 70% dilution for existing shareholders.
According to H100, the consideration was structured strictly on a 1:1 “Bitcoin-for-Bitcoin” basis. Share allocation was determined proportionately based on the combined Bitcoin holdings of both entities, explicitly excluding all other non-BTC assets and liabilities from the valuation formula.
The deal brings H100’s total Bitcoin treasury value to approximately $228 million. Based on data from BitcoinTreasuries, the expansion elevates H100 to the second-largest corporate Bitcoin holder in Europe, trailing only Germany’s Bitcoin Group SE, which holds 3,605 BTC.
First announced via a letter of intent in March, the acquisition completes H100’s takeover of Norwegian firms Moonshot and Never Say Die, marking one of the largest corporate treasury consolidations in the European digital asset sector this year.
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