Last updated on May 12th, 2026 at 05:45 pm
H100 Group AB has signed a non-binding letter of intent to purchase all outstanding shares in Norwegian firms Moonshot AS and Never Say Die AS in an all-share, bitcoin-for-bitcoin transaction.
The purchase would increase H100’s holdings in the cryptocurrency from 1,051 BTC to approximately 3,501 BTC after the transaction is complete, making it one of the bigger publicly listed bitcoin treasury firms in Europe.
The terms of the intended transaction have been set up so that, after the transaction closes, the shareholders of H100 will be determined by the quantity of Bitcoin each has contributed to the firm. The combined holdings of the target firms total 2,450 BTC, with no cash component in the transaction. The existing shareholders of H100 retain their proportionate exposure to the cryptocurrency.
Read the full press release here 👉 https://t.co/VvF5Vj2LmO pic.twitter.com/mS1qE1hLra
— H100 (@H100Group) March 23, 2026
Public companies and major investors are rapidly increasing Bitcoin holdings. Strategy (formerly MicroStrategy) leads with over 738,000 BTC, aiming for 800,000, while firms like Metaplanet and H100 are using equity raises and acquisitions to expand their portfolios. Market trends show rising whale wallet activity, record retail accumulation, and diverse investment strategies, including convertible bonds, cash reserves, staking, and lending, to boost Bitcoin exposure.
Bitcoin-for-bitcoin deal preserves exposure
The deal is structured to provide scale to H100’s balance sheet without impacting the economics of the company’s shares. There will be no change to the company’s listing structure, business model, or overall strategy. H100 will continue to be the listed company. The company will benefit from the additional investment, trading, and technology capabilities.
Experienced Team & Investor Network to Join H100
The acquisition brings H100 access to the experienced team of the target companies to assist with H100’s bitcoin treasury and capital markets business. The acquisition will also provide H100 access to a large international bitcoin investor network.
This includes prominent long-term holders Adam Back and Geir Harald Hansen, who are considered pioneers in the space. Definitive agreements are expected to be entered into by April 22, 2026. Completion of the acquisition is anticipated shortly after the company’s annual general meeting on May 21, 2026.
H100 emphasized the transaction strengthens liquidity, market relevance, and institutional appeal without altering its core focus on bitcoin treasury management. Notably, H100 Group recently marked a major milestone in its international expansion by officially joining the Frankfurt Stock Exchange under the ticker symbol GS9.
Enjoyed this piece? Bookmark DeFi Planet, explore related topics, and follow us on Twitter, LinkedIn, Facebook, Instagram, Threads, and Coin MarketCap Community for seamless access to high-quality industry insights.
“Take control of your crypto portfolio with MARKETS PRO, DeFi Planet’s suite of analytics tools.”
