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H100 triples Bitcoin treasury after buying Norwegian BTC firms

The all-stock deal involved issuing 790.5 million new shares, diluting existing shareholders by about 70%, and valued at about $155 million.

Reported · Written up by our desk · Market Structure

Sweden-listed health-tech and Bitcoin treasury company H100 Group completed its acquisition of Norwegian Bitcoin companies holding 2,455 BTC, bringing its total Bitcoin holdings to 3,506 BTC, more than tripling the treasury size, according to Cointelegraph.

Cointelegraph reports the transaction included no cash consideration, with H100 issuing 790.5 million new shares to sellers. The company said the deal diluted existing shareholders by about 70%, and priced the shares at 1.86 Swedish kronor, about $0.20 each, valuing the transaction at about 1.47 billion kronor, about $155 million.

H100 said the share issuance was calculated on a 1:1 Bitcoin-for-Bitcoin basis, using the sellers’ proportional share of the combined Bitcoin holdings of H100 and the acquired firms, while other assets and liabilities were excluded, Cointelegraph added.

The acquisition raised the value of H100’s Bitcoin holdings to about $228 million, making it Europe’s second-largest Bitcoin treasury company by holdings, behind Germany’s Bitcoin Group SE with 3,605 BTC, the outlet said.

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