H100 Buys Record Amount of Bitcoin in First-Ever Bitcoin-For-Bitcoin M&A Deal
H100, Sweden's first Bitcoin Treasury Company listed on NGM Stockholm, has made a significant move in the crypto market. On August 10, 2026, H100 announced that it had added 2,455.37 BTC to its treasury, increasing its total holdings to 3,506.4 BTC.
The acquisition was part of an M&A deal with NSD AS, a private target company formerly known as WR Start Up 594 AS. The transaction was completed entirely through H100 shares, without any cash payment.
The deal was structured on a one-to-one Bitcoin-for-Bitcoin basis, meaning the purchase price was determined by the value of the Bitcoin holdings rather than assessing the assets or liabilities of both companies.
H100 Executive Chairman Sander Andersen said, 'This is the largest M&A transaction ever completed in the European Public Bitcoin Equity sector, and the first in the world done Bitcoin for Bitcoin. We chose this structure because it is the cleanest expression of what we believe: Bitcoin per share is the metric that matters.'