H100 Group has signed a letter of intent for a proposed acquisition that, if completed, would increase its Bitcoin holdings to approximately 3,500 Bitcoin from about 1,051 Bitcoin.

https://x.com/H100Group/status/2035971537841320232

The contemplated transaction involves the acquisition of Norwegian companies Moonshot AS and Never Say Die AS in exchange for newly issued H100 shares. 

According to the proposed structure, the deal would be carried out on a Bitcoin-for-Bitcoin basis, with post-transaction ownership determined by the amount of Bitcoin contributed by each party rather than by a cash purchase price.

H100 said the structure is intended to preserve Bitcoin exposure on a per-share basis for existing shareholders while increasing the scale of the company’s balance sheet. 

The transaction would be completed as an all-share deal with no cash consideration.

If finalized, the acquisition would add investment, trading, and technology capabilities from the target companies while leaving H100 as the listed parent company and keeping its broader business model unchanged. 

The company also said its existing operations, including its health technology business, would continue following the transaction.

The company has previously indicated external support for its bitcoin treasury strategy, including from Blockstream CEO Adam Back, who has publicly described Bitcoin as “digital gold.”

H100 stated that the larger Bitcoin treasury could improve its institutional positioning, market relevance, and liquidity. 

Based on current holdings, the combined company would rank among the larger publicly listed Bitcoin treasury companies in Europe.

The parties are targeting definitive agreements by April 22nd, 2026, with completion expected shortly after H100’s annual general meeting on May 21st, 2026.

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