H100 Group AB is tripling its bitcoin holdings through a strategic acquisition of the Norwegian bitcoin companies Moonshot AS and Never Say Die AS, taking a new step towards its ambition of becoming a leading publicly listed bitcoin‑treasury company in Europe.
The publicly listed bitcoin‑treasury company H100 Group AB has entered into a letter of intent (LOI) to acquire the Norwegian companies Moonshot AS and Never Say Die AS – a move that will increase H100’s holdings from 1,051 to around 3,500 bitcoin upon completion of the transaction.
Pictured: Key people in the “new” H100: Sander Andersen (top left) and Johannes Wiik (top right), Eirik Grøttum (bottom left) and Peter Warren (bottom right).
The agreement marks a clear strategic step for H100 towards greater financial scale and stronger positioning with institutional investors. The acquisition is structured on a bitcoin‑for‑bitcoin basis, where ownership stakes are determined solely by the number of bitcoin contributed. In other words – no dilution, no cash consideration, just pure balance sheet growth in Bitcoin.
In practice, this is a merger between H100 and the Norwegian bitcoin companies, where the overall ownership structure, after completion, mirrors how much bitcoin each party puts in, rather than traditional cash pricing. This means that after the takeover, the owners of the acquired companies will own around 70 per cent of H100 and the current H100‑owners around 30 per cent. Geir Harald Hansen is in full swing — but now as a major shareholder in a listed bitcoin treasury company, not just as the owner of a large private bitcoin holding.
H100's strategy has been clear: build Europe's leading listed bitcoin treasury. After the acquisition, the company will be among the largest listed bitcoin holders in Europe, with a strengthened balance sheet, improved liquidity and greater relevance to the capital markets. At the same time, both the company's structure and current business lines, including the healthcare division, remain unchanged.
“Scale, credibility and access to capital markets are becoming increasingly important in the Bitcoin ecosystem — this transaction strengthens H100 in all of these areas,” said H100 Chairman Sander Andersen. “This is a natural continuation of our capital markets strategy and a milestone in building a Nordic-Swiss bitcoin ecosystem.”
The Norwegian companies involved in the acquisition are owned by investor Geir Harald Hansen, an early bitcoin pioneer who founded the Bitminter mining pool in 2011 — one of the world's first, with over 700,000 users and 208,000 mined bitcoins. Together with Eirik Grøttum (CEO) and Peter Warren (CIO), the Moonshot team brings with them heavy expertise from systematic trading, technology and asset management.
“Combining us with H100 provides the balance and flexibility needed to develop a leading, listed bitcoin treasury in Europe,” says Grøttum. “We gain both a greater balance sheet and access to the capital markets infrastructure, while maintaining our long-term bitcoin orientation.”
The parties plan to sign final agreements by April 22, 2026, with completion shortly after H100's annual general meeting on May 21, 2026. Upon completion of the transaction, H100 will consist of a strengthened team of representatives from both communities and continue the strategy of combining bitcoin treasury management with capital markets activity.
After the merger, a new, unified leadership built on the strengths of both organizations is added up. The board of directors and management will be composed of representatives from both H100 and the Norwegian target companies, while current key people — including co-founder and Chairman of the Board Sander Andersen and CEO Johannes Wiik — will continue to be central to the further development of the company. The final composition of the board, management and organizational structure will be clarified in the final agreements and will be subject to ordinary company decisions.