Sweden-listed health-tech and Bitcoin treasury firm H100 Group has signed a letter of intent to accumulate two privately-held Norwegian Bitcoin corporations, Moonshot and By no means Say Die, in an all-stock transaction with no money consideration.
The deal is structured to protect the sellers’ Bitcoin publicity whereas consolidating property into a bigger listed automobile.
What the deal would imply
H100 at present holds 1,051 BTC, whereas the 2 goal corporations maintain roughly 2,450 BTC mixed.
After the deal, H100’s whole holdings would attain 3,501 BTC — price round $239.7 million at present costs — putting it simply behind Germany’s Bitcoin Group, which holds 3,605 BTC, because the second-largest listed Bitcoin treasury firm in Europe.
By way of international rankings, H100 would soar from forty fourth to twenty seventh amongst public Bitcoin treasury corporations, surpassing Cango Inc and France-based Capital B.
Settlement
A definitive settlement is predicted by April 22, with closing focused after H100’s annual common assembly.
H100 chairman Sander Andersen mentioned:
“Scale, credibility and entry to capital markets are more and more essential within the Bitcoin area, and this transaction would considerably strengthen H100 in all these areas.”
Andersen described the present market surroundings as “difficult” however mentioned the acquisition strengthens the corporate’s Bitcoin place in a capital-efficient method, and pledged future BTC purchases.
Inventory stress and European accumulation
H100’s inventory has fallen over 74% up to now 9 months and greater than 26% year-to-date in 2026, reflecting broader stress on Bitcoin treasury shares as bitcoin stays properly beneath its October 2025 all-time excessive.
Regardless of the value drawdown from all-time highs, European treasury corporations proceed to build up.
On the identical day H100 introduced its deal, France-based Capital B acquired 44 BTC for two.7 million euros ($3.1 million), bringing its whole to 2,888 BTC at a mean value foundation of $106,662 per coin.
H100’s personal common value foundation stands at $114,615 per BTC.
The Norway deal follows H100’s earlier accomplished acquisition of Switzerland-based Future Holdings AG.