H100 Group Acquires 2,455 Bitcoin, Total Holdings Surge to 3,506

H100 Group Acquires 2,455 Bitcoin

On August 10, 2026, H100 Group finalized its acquisition of NSD AS, securing 2,455.37 Bitcoin and increasing its total Bitcoin holdings to 3,506.4 BTC. This transaction, announced earlier in April, is notable for being executed without any cash payment.

Transaction Details

The acquisition was finalized through the issuance of approximately 790.5 million shares to the sellers, price at SEK 1.86 per share, reflecting a Bitcoin valuation established on July 31 at roughly SEK 598,926.69 or about $62,900 per BTC. After the acquisition, H100’s total Bitcoin holdings are estimated to be worth around $228.5 million at Bitcoin’s current price.

Impact of the Acquisition

H100 emphasized that the deal signifies the largest merger and acquisition (M&A) transaction within Europe’s public Bitcoin equity sector, and according to the company, it is also the world’s first transaction conducted Bitcoin-for-Bitcoin. However, these claims have yet to be independently verified across public market transactions.

New Share Issuance and Market Impact

The issuance of new shares resulted in approximately 70% dilution of H100’s equity, though the company noted that the basic Bitcoin per share remains unchanged. Nonetheless, fully diluted sats per share increased by 5%, moving from 288 to 303 after the transaction.

Strategic Expansion

The acquisition of NSD AS incorporates Moonshot AS and PDI AS into H100’s structure, with PDI known for an active Bitcoin management strategy aimed at preserving capital while managing downside risks. Sander Andersen, Executive Chairman of H100, stated that this merger enhances the group’s existing technological and market capabilities.

Future Steps and Conclusion

Following the deal, the new shares are expected to begin trading on the NGM Nordic SME shortly. The board of H100 received approval from shareholders during their annual general meeting held on June 23 to facilitate the issuance of these shares as part of the purchase agreement. H100’s aggressive acquisition strategy has significantly expanded its Bitcoin treasury since its initial purchase of only 4.39 BTC in May 2025.