H100 Group (H100), a Stockholm-based listed bitcoin Treasury company focused on providing institutional exposure to bitcoin, said it signed a letter of intent to acquire Norwegian peers Moonshot AS and Never Say Die AS to increase its holdings of the largest cryptocurrency.
If completed, the deal would roughly triple H100’s bitcoin holdings to around 3,500 BTC, placing it among Europe’s largest listed bitcoin tax companies. Beyond that, H100 said it aims to strengthen its institutional profile, improve liquidity and expand its relevance in the capital markets.
The announcement follows the company’s announcement in January that it plans to combine with Future Holdings AG, a Zurich-based bitcoin tax firm. Both are backed by Adam Back, a British cryptographer and co-founder of Blockstream.
The transaction is structured as a bitcoin-for-bitcoin exchange, meaning ownership in the combined entity will be determined solely by the amount of bitcoin contributed. This approach preserves bitcoin exposure per share for existing investors and avoids dilution while significantly scaling the company’s balance sheet.
The purchase will be completed as an all-share transaction without cash consideration.
The target companies together have about 2,450 BTC.
Final agreements are expected to be concluded on 22 April, subject to final approvals shortly after the company’s ordinary general meeting in May.
The announcement sent H100 shares up 2% on the day.
