TL;DR
H100 Group shareholders approved an equity-based acquisition that expands the company’s Bitcoin exposure through the integration of two Norwegian firms. The deal raises total reserves to roughly 3,500 BTC, reinforcing its position as a listed Bitcoin treasury vehicle in Europe. The structure avoids cash outflows and relies entirely on share issuance, aligning corporate financing with Bitcoin accumulation and making BTC the central balance sheet asset, equity issuance the funding mechanism, and treasury expansion the core strategy driver.
All resolutions proposed at today’s Annual General Meeting were approved by shareholders.
This includes the authorization required to issue consideration shares relating to the acquisitions of Moonshot AS and Never Say Die AS.
The transaction increases H100’s Bitcoin treasury… pic.twitter.com/cZvvinknXs
— H100 (@H100Group) June 23, 2026
Shareholders voted at the annual general meeting to authorize new share issuance for acquiring Moonshot AS and Never Say Die AS. The transaction adds more than 2,400 BTC to H100’s balance sheet while maintaining Bitcoin exposure for the sellers through equity conversion. The vote also approved amendments to capital limits, expanding the company’s ability to issue shares in future transactions and strengthening financial flexibility, capital structure scalability, and long-term issuance capacity.
The acquisition reflects a model increasingly used by Bitcoin-focused listed firms, where equity replaces cash payments to avoid draining treasury reserves. Management emphasized that the structure supports long-term alignment with Bitcoin while maintaining liquidity stability. All AGM agenda items were approved, confirming shareholder support for the strategy and enabling execution of the April agreement, with broad governance backing, cashless acquisition design, and BTC-centric balance sheet expansion.
After completion, H100 will hold about 3,501 BTC, positioning it just behind Germany’s Bitcoin Group (3,605 BTC) among European listed companies. Despite this expansion, the stock remains under pressure, with a decline of more than 90% over the past year. Management continues prioritizing Bitcoin accumulation as a structural treasury approach, with BTC per share emerging as a key reference metric, treasury size becoming a competitive benchmark, and equity performance diverging from Bitcoin accumulation growth.
The broader market continues to evaluate how public companies integrate Bitcoin into their balance sheets using equity-based financing models. H100’s approach reflects a growing trend among smaller listed firms treating Bitcoin as a primary reserve asset rather than a secondary allocation.
