Sweden’s H100 Plans Norwegian Acquisitions to Become Europe’s No. 2 Listed Bitcoin Treasury Company

H100 Group is a Swedish health technology and Bitcoin treasury company listed on NGM Nordic SME that uses its holdings to increase Bitcoin exposure per share. It plans to issue new shares to acquire Norway's Moonshot AS and Never Say Die AS, allowing the sellers to retain Bitcoin exposure while expanding the listed platform. If completed, the deal would make H100 Europe's second-largest listed Bitcoin treasury company, behind only Germany's Bitcoin Group SE.

H100 signed a letter of intent on March 23, 2026, to acquire the two companies in an all-stock transaction. The targets hold about 2,450 Bitcoin combined. Shareholders approved the issuance of the shares required for the transaction on June 23. Upon completion, H100's holdings would rise from 1,051 Bitcoin to about 3,501 Bitcoin, worth approximately $239.7 million at the price used when the proposal was announced. The sellers would own about 70% of the combined company.