H100 Group AB has declared that it has acquired an extra 47.33 Bitcoin as part of its Bitcoin Treasury Strategy, elevating its overall BTC assets to 247.54 BTC.
The purchase, valued at SEK 48,999,597, was carried out at an average price of SEK 1,035,126 per BTC. This recent action enhances H100’s stance in Bitcoin as a reserve asset, reinforcing the firm’s faith in Bitcoin over the long term.
This acquisition occurs merely two weeks after H100 obtained 144.8 BTC from the proceeds of the initial four segments of a convertible loan arrangement. That influx had already increased the firm’s Bitcoin total to 169.2 BTC, before this latest deal.
The convertible loan framework is part of a larger SEK 750 million funding strategy spearheaded by Blockstream CEO Adam Back, providing H100 the option to receive settlements in either cash or Bitcoin. This adaptability aligns with the company’s strategic aim of establishing a Bitcoin-denominated treasury.
Back’s involvement includes a SEK 150 million contribution in Tranche 6, offered at a 33% premium over the market rate. This framework enables H100 to efficiently onboard capital without resorting to traditional rights issues or immediate equity dilution.
“Surprisingly, due to the strong demand, Tranches 1-4 became profitable quickly,” Back remarked. “I anticipated [H100] would convert them gradually as they attained in-the-money status.”
H100’s Bitcoin treasury initiative commenced in May, making it the foremost publicly traded health-tech firm in Sweden to embrace Bitcoin as a reserve asset. The initial purchase of 4.39 BTC, appraised at 5 million NOK, marked a significant step toward integrating Bitcoin as a long-term hedge and financial resource.
“This increment to H100’s Bitcoin Treasury Strategy follows a growing trend of tech-oriented growth firms incorporating Bitcoin into their balance sheets,” stated H100 Group CEO Sander Andersen. “I believe the principles of individual sovereignty prevalent in the Bitcoin community resonate with, and will attract, the clients and communities we are developing the H100 platform for.”