- H100 added 2,455.37 BTC, raising its total Bitcoin holdings to 3,506.4 BTC.
- The company issued 790.5 million shares, creating an estimated 70% dilution.
- H100 rose from 42nd to 26th among public corporate Bitcoin holders.
H100 Group has completed its largest treasury expansion, adding 2,455.37 BTC through two Norwegian acquisitions. The deal lifts H100 Bitcoin holdings to 3,506.4 BTC, valued near $230 million at current prices.
The Swedish company issued shares instead of spending cash. That structure expands its Bitcoin reserve while preserving liquidity, although it also creates substantial dilution for existing shareholders.
H100 Bitcoin Holdings Expand Through Norwegian Acquisitions
The completed transactions covered NSD AS, formerly WR Start Up 594 AS, and the Norwegian firms Moonshot and PDI. Those deals transferred 2,455.37 BTC to H100 and more than tripled its reserve.
H100 Bitcoin holdings now rank 26th among listed corporate treasuries, up from 42nd, according to Bitcoin Treasuries. The total puts H100 close to Gemini’s reported corporate position.
Bitcoin currently trades below H100’s reported average purchase price of $78,400. As a result, the treasury carries an unrealized loss despite its larger nominal size. Its current value stands near $226.7 million to $230 million, depending on the market price used.
The expansion follows a gradual strategy that began with a 4.39 BTC purchase in May 2025. Its board adopted a formal Bitcoin treasury policy the following month. H100 kept accumulating through early 2026 before completing this larger corporate transaction.
Share Issuance Preserves Cash but Brings Heavy Dilution
Meanwhile, H100 financed the purchase by issuing about 790.5 million new shares at SEK 1.86 each. The securities carried a combined value near SEK 1.47 billion, or roughly $155 million.
Management said the structure left satoshis per basic share unchanged. It increased satoshis per fully diluted share by approximately 5%.
However, the issuance increased the share count sharply. Estimates place dilution near 70%, based on shares outstanding when H100 announced the transaction. That trade-off lets H100 Bitcoin holdings grow without a direct cash payment. Existing investors now own a smaller percentage of the company.
Executive Chairman Sander Andersen described the deal as Europe’s largest public Bitcoin equity merger and acquisition. H100 Bitcoin holdings now position the company among Europe’s larger listed Bitcoin treasuries.
By contrast, Strategy sold 1,690 BTC for $108.6 million last week. MARA also reported selling 2,213 BTC during the second quarter. Its first-half disposals reached 23,093 BTC, worth about $1.6 billion. Those sales highlight a different treasury approach as H100 Bitcoin holdings move sharply higher.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
