H100 targets 3,501 BTC in new Norway stock deal

H100 Group has signed a letter of intent to buy Norwegian Bitcoin companies Moonshot AS and Never Say Die AS through an all-share deal. 

If completed, the transaction would expand H100’s Bitcoin treasury and move the Sweden-listed company closer to the top tier of Europe’s public Bitcoin holders.

According to a press release, H100 said the proposed transaction would be carried out as a share-for-share acquisition. Under the plan, H100 would issue new shares to acquire all shares in Moonshot AS and Never Say Die AS, with no cash payment included in the structure.

The company said this setup is designed to keep the sellers exposed to Bitcoin through shares in a listed company. H100 added that the final terms will be set in definitive agreements, while the deal remains subject to due diligence, corporate approvals, and stock exchange requirements.

Bitcoin holdings could rise to about 3,501 BTC

Bitcointreasuries data shows H100 currently holds 1,051 BTC. The company said the two target firms hold about 2,450 BTC combined, which would bring the total to about 3,501 BTC if the acquisition closes.

That total would place H100 just behind Germany’s Bitcoin Group among Europe’s listed Bitcoin treasury companies. Bitcointreasuries ranks H100 44th among public Bitcoin treasury companies worldwide at present, and the added holdings would move it well above its current standing.

H100 chairman Sander Andersen said, 

“Scale, credibility and access to capital markets are increasingly important in the Bitcoin space, and this transaction would strengthen H100 in these areas.” 

That statement appeared in public reporting on the planned acquisition and outlined the company’s stated reason for the move.

The company has also completed the acquisition of Switzerland-based Future Holdings AG, showing that it is still building its Bitcoin treasury platform through deals. H100 said the new transaction would not change its listing structure or its role as the listed parent company.

AGM timing and share performance remain in focus

H100 expects to sign a definitive agreement by April 22. The company has said closing would come after its annual general meeting, but its current financial calendar lists the AGM on May 21, 2026.

The proposed deal comes while H100 shares remain under pressure and Bitcoin treasury companies continue to face a weaker market environment.