Capital Sessions, Lugano. Our first one, hosted with @ArkLabsHQ.
A morning on how Bitcoin capital actually gets raised, structured and deployed in Europe, with operators and allocators in the room rather than on a screen 🤝
Still catching up after a successful Arkade Day in Lugano last week.
An impactful morning on Bitcoin capital opportunities with @H100Group, and a fantastic collection of industry operators and allocators.
Thanks to friends, partners and everyone who showed up.
We’re pleased to join @ArkLabsHQ as co-hosts of Capital Sessions in Lugano on 21 October.
Our Chairman, @Sanderandersenn, will open with a conversation on growing Bitcoin per share in Europe.
We look forward to discussing Bitcoin capital markets and the frontier of modern finance.
H100 CEO @eirikgro has bought 407,163 shares in H100 through a closely associated company, for a total of SEK 621,887 (average price SEK 1.53 per share).
Following the purchases, companies closely associated with Eirik hold a total of 5,399,464 H100 shares.
New Swedish rules open share buybacks to companies listed on MTFs such as NGM Nordic SME, where H100 Group is listed.
The law enters into force on 5 December 2026.
CEO @eirikgro : Buybacks are an important tool for listed companies, and I am very pleased that companies on the MTFs will now have access to the same toolbox as those on the main markets."
"For us, buybacks will be one of several capital allocation options, particularly when the stock is trading below NAV.
H100 has taken no decision on any repurchase of own shares. Any buyback would require an authorisation from the general meeting and a resolution by the board, and would be announced in accordance with applicable rules.
Q2 2026 is out.
The reported loss before tax was −98.2 MSEK. Almost all of it is non-cash, principally a write-down of our bitcoin. What the business actually consumed was −5.1 MSEK in the quarter and −12.7 MSEK for the half year, and we ended June with 18.1 MSEK in cash.
But the quarter's figures are not where the story is. The work that mattered in Q2 was the transaction we signed in April and closed on August 10 — after the balance sheet date, and therefore not reflected in this report:
Bitcoin: 1,051 → 3,506 BTC
Shares: 338m → 1,129m
Fully diluted Sats per share: 288.49 → 303.62
We encourage shareholders to read the statement from our new CEO, Eirik Grøttum, in full.
"BTC should be the hurdle rate, not the business model."
Full interim report and Eirik's first CEO statement linked below.
H100 Group appoints @PeterCWarren as Chief Investment Officer.
Warren brings more than 45 years of experience from global capital markets as a trader, market maker, fund manager and Chief Investment Officer, with deep expertise in derivatives, portfolio management and risk management.
Prior to the appointment, Warren managed approximately 2,450 Bitcoin together with CEO Eirik Grøttum through Moonshot AS and its subsidiary PDI AS.
H100 Group appoints Eirik Grøttum as Chief Executive Officer.
Grøttum previously led Moonshot AS, acquired by H100 in the transaction completed yesterday, and brings experience across technology, fintech, systematic trading and digital assets. He has managed the acquired Bitcoin holdings together with Chief Investment Officer Peter C. Warren, who continues in his role and brings more than 45 years of capital markets experience.
Sander Andersen remains Executive Chairman, and Johannes Wiik returns to the role of Chief Operating Officer, overseeing operations, corporate development, capital markets and strategic transactions.
H100 acquires 2,455.4 Bitcoin at approx. USD 62,900 per Bitcoin, increasing total holdings to 3,506 BTC.
The transaction, announced in April, has now been completed:
- Largest M&A transaction in the European Public Bitcoin Equity sector
- World's first Bitcoin-for-Bitcoin M&A transaction in public markets
- Paid entirely in H100 shares at 1.0x mNAV, an implied share price of SEK 1.86, with no cash consideration
- Sats per basic share unchanged, sats per fully diluted share up approximately 5%, from 288 to 303
- The acquired company holds no financial debt
The acquisition brings together complementary teams, technology and market capabilities. Together we can accomplish things neither company could accomplish alone.
Most of Europe's biggest banks are preparing to offer $BTC custody and trading.
@Sanderandersenn of @H100Group tells @Johnyonthefloor banks across the EU, Switzerland, and the Nordics are also opening up to banking crypto companies directly, calling it "one of the fundamental developments" that makes him "very bullish on Bitcoin going forward."
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 from 1,051 BTC to approximately 3,500 BTC, marking a significant milestone in the execution of H100’s Bitcoin treasury strategy.