H100 Eyes 3,500 BTC Holdings After Share Deal to Acquire Bitcoin Firms

Highlights:

• H100 plans to expand BTC holdings to about 3,500 BTC through an acquisition of Norwegian Bitcoin firms.
• The deal uses new shares and no cash, allowing sellers to keep BTC exposure through a listed company structure.
• The combined holdings could move H100 closer to Europe’s top BTC treasury companies and improve its global ranking.

H100 Group, a Sweden-based health-tech and Bitcoin treasury company, has signed a letter of intent to acquire Moonshot AS and Never Say Die AS. Both companies operate in Norway and hold large Bitcoin reserves. The planned deal will move those holdings into a listed structure. H100 will use newly issued shares and will not include any cash in the transaction.

H100 has signed an LOI for a strategic acquisition expected to increase its bitcoin holdings to 3,500 BTC.

The transaction would position H100 as one of Europe’s largest publicly listed bitcoin treasury companies. pic.twitter.com/RTsURd5EQO

— H100 (@H100Group) March 23, 2026

The company will exchange shares for full ownership of both firms. This setup allows the sellers to keep exposure to Bitcoin through H100 stock. It also keeps the transaction capital efficient and simple to execute. H100 said the structure reflects a bitcoin-for-bitcoin approach. Ownership in the combined group will depend on the Bitcoin contributed by each party.

H100 said the deal still requires due diligence and corporate approvals. The company must also meet stock exchange rules before signing final agreements. It expects to finalize the agreement by 22 April. H100 will remain the listed parent company after the transaction. The deal will combine Bitcoin holdings into one public entity.

H100 chairman Sander Andersen explained the strategy behind the deal. He stated, “We see strong industrial logic in this acquisition. Scale, credibility, and access to capital markets are increasingly important in the Bitcoin space. This transaction would significantly strengthen H100 in all these areas.”

BTC Holdings Growth Could Push H100 Near Europe’s Top Tier

The H100 Group has approximately 1,051 BTC on its balance sheet. Moonshot AS and Never Say Die AS own approximately 2,450 BTC in total. Assuming the deal goes through, H100 would have approximately 3,500 BTC. That is approximately $239.7 million at present prices.

This growth would make H100 one of the largest listed Bitcoin treasury companies in Europe. Bitcoin Group of Germany possesses approximately 3,605 BTC, which puts it slightly in the lead. According to Bitcointreasuries data, H100 is number 44 on the list of publicly traded Bitcoin treasury companies in the world. The new total would put the company near the top 30.

The shift would also place H100 above firms such as Cango Inc. and France-based Capital B. The latter has also increased its Bitcoin position in recent activity. The company bought 44 BTC for about 2.7 million euros. It now holds around 2,888 BTC at an average cost of $106,662 per coin.

JUST IN: 🇫🇷 Capital B (@_ALCPB) has acquired 44 BTC for €2.7M at €61,763 per bitcoin.

🟠 2,888 BTC total holdings
📊 0.72% BTC Yield YTD pic.twitter.com/5dNqbF8LVB

— Bitcoin For Corporations (@BitcoinForCorps) March 23, 2026

Timeline and Share Pressure Remain Key Factors

H100 Group expects to sign a definitive agreement by 22 April. The company plans to complete the transaction after its annual general meeting. However, the AGM dates are not consistent across company materials. The investor calendar lists 21 April, while another notice refers to 21 May.

H100 shares have declined over recent months. The stock has dropped more than 74% in nine months. It has also fallen by over 26% this year. These movements reflect pressure across Bitcoin treasury companies.

H100 has indicated that it plans to continue expanding its Bitcoin holdings. The company uses both acquisitions and direct purchases to grow its treasury. Meanwhile, other BTC-focused companies are increasing their holdings. Strategy acquired 1,031 Bitcoin at $76.6 million last week, pushing its holdings to 762,099 BTC.