Bitcoin developer Geir Harald Hansen has publicly endorsed a proposed transaction that would make him the largest shareholder of H100 Group, ahead of a shareholder vote scheduled for June 23rd.

According to H100, the transaction would increase the company's Bitcoin holdings to approximately 7,400 Bitcoin and introduce Hansen as its new majority shareholder. 

Hansen is best known for founding Bitminter, an early Bitcoin mining pool that mined more than 208,000 Bitcoin before ceasing operations in 2020.

In a letter to shareholders, Hansen said his companies currently manage approximately 2,450 Bitcoin and have developed expertise in software development, asset management, and trading. 

He stated that combining those operations with H100 would create a larger platform focused on digital assets.

H100 has previously pointed to backing from industry figures including Blockstream CEO Adam Back, a longtime advocate of Bitcoin as digital gold.

Hansen also addressed concerns regarding ownership concentration, stating that ownership in the combined company would be based solely on the amount of Bitcoin contributed and that all shareholders would hold the same class of shares.

"I understand that a single 70% owner might not be an ideal long-term ownership structure. As we move forward, I will work in the best interests of the company to diversify the investor base and make room for new strategic investors."

H100 noted that the letter reflects Hansen's views and does not necessarily represent the views of the company's board or management.