Sweden’s H100 Targets Norwegian Firms in All Stock Bitcoin Deal

Sweden listed health tech and Bitcoin treasury firm H100 Group has signed a letter of intent to acquire privately held Norwegian Bitcoin companies Moonshot and Never Say Die. The proposed transaction will be completed through newly issued H100 shares rather than cash, allowing sellers to maintain exposure to Bitcoin while transferring their holdings into a larger publicly listed structure.

A definitive agreement is expected by April 22, with the deal scheduled to close after the company’s annual general meeting. Company disclosures have shown differing meeting dates, with one notice listing April 21 and another referring to May 21. The acquisition follows H100’s earlier purchase of Switzerland-based Future Holdings AG.

Potential Rise in European Bitcoin Treasury Rankings

H100 currently holds 1,051 Bitcoin, while the Norwegian target companies hold approximately 2,450 Bitcoin. If finalized, total holdings would increase to around 3,501 Bitcoin, valued at roughly $239.7 million at current market levels. This would position H100 as the second-largest listed Bitcoin treasury company in Europe, behind Germany’s Bitcoin Group, which holds 3,605 Bitcoin.

The expansion would also move H100 from 44th to 27th globally among Bitcoin treasury firms. Despite the growth strategy, the company’s stock has declined more than 74% over the past nine months and over 26% year-to-date in 2026, reflecting broader pressure across Bitcoin treasury stocks.

Disclaimer

This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.