H100 Group purchased 2,455.37 BTC for $154 million, bringing total holdings to 3,506.4 BTC valued at ~$230 million, marking the largest M&A deal in European public Bitcoin equity.
Macro & Markets ·
H100 Group has completed an acquisition of 2,455.37 BTC valued at $154 million through its purchase of NSD AS, expanding its total holdings to 3,506.4 BTC with a current worth approaching $230 million. The transaction, which was announced earlier this year, represents the company's single largest Bitcoin accumulation to date and qualifies as the largest M&A deal within the European public Bitcoin equity space. H100 now ranks among Europe's leading public entities holding Bitcoin as a treasury reserve.
The deal structure involved new share issuance while maintaining existing BTC-per-share ratios. However, H100's average acquisition cost of $78,400 per Bitcoin positions the company at an unrealized loss on its total position given current valuations. This purchase follows the firm's initial Bitcoin treasury strategy adoption last year and continues a pattern of gradual accumulation over the preceding months.
The transaction demonstrates an acceleration in H100's Bitcoin acquisition strategy after several months of slower purchasing activity. The specific mechanics of how the all-Bitcoin deal preserved per-share metrics while nearly tripling holdings remain partially detailed, though the preservation of this metric during the equity issuance suggests a carefully structured transaction designed to maintain shareholder ratios.