Swedish Firm H100 to Scale Bitcoin Treasury to 3,500 BTC via Norwegian Acquisitions
The company has entered a binding agreement to acquire Moonshot AS and Never Say Die Holding AS to bolster its corporate reserves.
Stockholm-based H100 is moving to significantly expand its corporate balance sheet through the acquisition of two Norwegian entities. The strategic move is designed to position the Swedish firm as a leading corporate Bitcoin holder within the European market.
According to reports from Bitcoin World and CoinDesk, H100 has entered into a binding agreement and letter of intent to acquire Moonshot AS and Never Say Die Holding AS. This transaction is expected to add approximately 2,450 BTC to the company's treasury, bringing H100's total holdings to approximately 3,500 BTC. While some sources cite the final total as 3,501 BTC, the acquisition represents a massive scaling of the firm's digital asset reserves. The final signing for the deal is planned for April 22, 2026, with the closing scheduled to follow the company's annual general meeting.
A 'Bitcoin-First' Strategy
H100 is pursuing a corporate treasury model that mirrors the 'Bitcoin-first' strategy popularized by MicroStrategy. Rather than relying exclusively on open-market purchases, which can be capital-intensive and subject to immediate price volatility, H100 is utilizing mergers and acquisitions to rapidly accumulate assets. By absorbing firms that already hold significant Bitcoin reserves, the company can scale its treasury more efficiently while integrating existing corporate structures.
Implications for European Markets
This move signals a growing trend among European public companies to adopt Bitcoin as a primary reserve asset. By aggressively pursuing a dominant position in the region, H100 is testing the viability of the Bitcoin treasury model outside of the United States. If the firm successfully establishes itself as one of Europe's largest listed Bitcoin treasuries, it could serve as a blueprint for other regional corporations. Such a shift would likely accelerate institutional adoption of BTC across Europe, as more firms view the asset as a legitimate hedge or primary reserve.
Looking Ahead
Market observers are now watching for the formal closing of the deal following the annual general meeting. While the binding agreement is in place, the final integration of Moonshot AS and Never Say Die Holding AS will be the critical next step in H100's bid for treasury dominance. It remains to be seen if other European firms will respond with similar acquisition-led strategies to keep pace with the evolving corporate landscape in the digital asset space.