H100 Group triples Bitcoin holdings to 3,506 BTC via acquisition

H100 Group, a Sweden-listed health-tech firm, has completed an all-stock acquisition of Norwegian Bitcoin companies Moonshot AS and PDI AS, more than tripling its corporate Bitcoin treasury to 3,506 BTC.

The transaction, valued at approximately $155 million (1.47 billion kronor), involved no cash. Instead, H100 issued 790.5 million new shares at 1.86 Swedish kronor each, a move that diluted existing shareholders by roughly 70%. The deal is noted as a landmark “Bitcoin-for-Bitcoin” M&A transaction in public markets, as the number of shares allotted was determined by the Bitcoin holdings of the acquired entities.

This acquisition positions H100 as Europe’s second-largest public Bitcoin treasury firm, trailing only Germany’s Bitcoin Group SE, which holds 3,605 BTC. The expansion contrasts with recent trends where other major holders, such as MicroStrategy and MARA Holdings, have reduced their Bitcoin reserves.