H100 has signed a letter of intent to acquire Norwegian bitcoin investment firms Moonshot AS and Never Say Die AS. The deal uses a share-swap structure, allowing H100 to boost its bitcoin reserves without altering the proportional exposure for its existing shareholders. With the transaction, H100’s total bitcoin treasury will increase to approximately 3,501 BTC, reinforcing the company’s position among Europe’s foremost publicly listed bitcoin-focused treasuries. H100 operates as a specialized investment group, active in bitcoin treasury management, trading, and capital markets across Europe.
Acquisition Structure And Impact
The agreement between H100 and the two Norwegian firms will be completed via newly issued shares, directly linked to the amount of bitcoin each entity contributes to the combined group. With this structure, stakeholders from all companies retain their bitcoin holdings on a proportional basis, resulting in zero dilution in cryptocurrency exposure while expanding the asset base. Moonshot AS and Never Say Die AS are set to bring approximately 2,450 BTC to the table, complementing H100’s existing reserve of about 1,051 BTC.
Expansion Of Expertise And Resources
The acquisition will also introduce to H100 an experienced team of technology and investment professionals, who will become part of the company’s board of directors and management lineup. This addition is designed to integrate systematic trading knowledge and hedge fund management to strengthen H100’s operational and strategic approach in the highly competitive digital asset market. The inclusion of bitcoin industry veterans aligns with H100’s plans to expand its influence in institutional capital markets and further solidifies its profile in treasury management.
With the backing of this expanded team, H100 expects to see improvements in liquidity management, capital markets participation, and overall treasury oversight. Management predicts these changes will contribute to increased institutional investor interest and facilitate the pursuit of greater market opportunities within Europe’s evolving digital asset landscape.
Both Moonshot AS and Never Say Die AS have established themselves as players specialized in bitcoin acquisition and investment portfolio management. Their teams are recognized for advanced skills in systematic trading and hedge fund operations, capabilities that support H100’s longer-term vision to become a leading, publicly traded bitcoin treasury firm in Europe. The companies are controlled by Geir Harald Hansen, notable for founding the Bitminter mining pool, which mined more than 208,000 BTC during its operational tenure—an amount representing around 1% of bitcoin’s supply circulating to date.
Following the acquisition, H100 will maintain its current management structure. Johannes Wiik continues as CEO, and Sander Andersen retains his position as Chairman. The transaction will further diversify H100’s board and senior staff by adding key individuals from the acquired Norwegian companies, ensuring a continuity of expertise while expanding its functional scope.
A spokesperson for H100 described the core logic behind the acquisition as follows:
“This share-based exchange maintains the integrity of our bitcoin exposure and positions us to capitalize on market opportunities with a larger, more skilled team and treasury. Our goal remains clear: to lead as Europe’s principal public bitcoin treasury.”
With approval processes underway, the enlarged group expects not only a stronger asset base, but also more robust access to liquidity and market reach, anticipating that this will improve H100’s standing among institutional investors in the digital assets sector.
