H100 Group Expands Bitcoin Holdings
H100 Group has expressed its intent to expand its Bitcoin holdings by signing a letter of intent to acquire two Norwegian firms, Moonshot AS and Never Say Die AS, through an all-share transaction. This strategic move, if finalized, would significantly increase the company’s Bitcoin treasury, positioning H100 more competitively among Europe’s listed Bitcoin holders.
Acquisition Structure
The acquisition is structured as a share-for-share deal, meaning that H100 will issue new shares to the owners of Moonshot AS and Never Say Die AS in exchange for their stakes, without any cash changing hands. This arrangement allows the sellers to maintain their exposure to Bitcoin via shares in a publicly traded entity.
H100 is currently holding 1,051 BTC and, according to estimates from Bitcointreasuries, the target companies collectively possess around 2,450 BTC. Should the acquisition proceed, the total Bitcoin holdings of H100 would rise to approximately 3,501 BTC, elevating its status to just below that of Germany’s Bitcoin Group in terms of Bitcoin treasury size within Europe. Presently, H100 ranks 44th among public Bitcoin treasury firms globally, but this deal could enhance its standing significantly.
Strategic Importance
Chairman Sander Andersen emphasized the growing importance of scale and credibility within the Bitcoin sector, noting that this acquisition would bolster H100’s position in capital markets.
The company is also actively pursuing growth through acquisitions, having previously completed the purchase of Future Holdings AG based in Switzerland, further strengthening its Bitcoin treasury expansion initiative.
Next Steps and Market Challenges
The finalization of the current deal remains contingent on due diligence and the approval of corporate actions along with adherence to stock exchange regulations. H100 aims to finalize a definitive agreement by April 22. Additionally, the completion of the transaction is anticipated to occur following the company’s annual general meeting, scheduled for May 21, 2026.
It’s worth mentioning that H100’s shares have been facing challenges, reflecting the broader struggles experienced by Bitcoin treasury companies in the current market climate.
