Overview
- H100 Group, which on Monday signed a letter of intent to buy Norway’s Moonshot AS and Never Say Die AS, said the deal would lift its treasury to about 3,501 BTC if completed.
- The transaction uses a bitcoin-for-bitcoin, all-share structure with no cash, which means ownership in the combined company is set by how many bitcoins each side contributes and existing holders keep the same bitcoin per share.
- H100 targets definitive agreements by April 22 and expects to close shortly after its May 21 annual meeting, pending due diligence, board and shareholder votes, and stock-exchange approvals.
- Coverage differs on where the combined stash would rank in Europe, with some reports placing H100 first and others saying it would sit just behind Germany’s Bitcoin Group SE, which holds about 3,605 BTC.
- The targets would add experienced operators to H100, including Eirik Grøttum, Peter Warren, and Bitminter founder Geir Harald Hansen, and the plan has backing from Blockstream co-founder Adam Back.