H100 Group AB Shares Surge 45% After $10.6 Million Raise for Bitcoin Strategy

Sweden’s H100 Group AB, a health tech firm, saw its share price soar by 45% on Wednesday following the announcement that it had raised 101 million Swedish krona, approximately $10.6 million. This funding is intended to accelerate the company’s Bitcoin treasury strategy, a move that has captured significant attention.

The latest raise is nearly five times larger than H100’s previous funding round of $2.2 million, which was led by Bitcoin cypherpunk Adam Back. This substantial increase reflects a growing trend among publicly traded companies worldwide, where an increasing number of firms are adding Bitcoin to their balance sheets. According to data, 14 new companies have adopted this strategy in just three weeks, bringing the total to 126 corporate entities.

The $10.6 million raise was divided into two parts: share issues worth 69.65 million krona ($7.31 million) and convertible loans contributing 31.35 million krona ($3.29 million). The net proceeds from these share issues are designated to accelerate H100’s Bitcoin treasury strategy, potentially allowing the company to purchase around 67.1 Bitcoin. This would add to its existing holdings of 13.95 BTC, bringing the total to 81.85 BTC.

Notable investors participated in the share issues, including Adam Back, Bitcoin investment firm UTXO Management, and several Nordic investment firms such as Race Ventures Scandinavia and Crafoord Capital Partners. The convertible loans, which carry no interest and mature in five years, offer investors the option to convert their loans into equity at 1.75 krona per share. Initially set at 21 million krona, the raise was increased to 31.35 million krona, indicating strong investor interest in H100’s Bitcoin strategy.

H100’s approach to health and Bitcoin is closely aligned. The company provides health tools for individuals who prefer not to rely on the traditional reactive health system. According to H100’s CEO, Sander Andersen, the values of individual sovereignty, which are prominent in the Bitcoin community, resonate well with the company’s mission. This alignment is expected to appeal to the customers and communities that H100 is targeting with its platform.

H100’s decision to integrate Bitcoin into its treasury strategy is part of a broader movement where companies are recognizing the potential of digital currencies. This move not only diversifies their financial holdings but also positions them at the forefront of technological innovation. As more companies adopt similar strategies, the trend of integrating Bitcoin into corporate treasuries is likely to continue, further solidifying its role in the global financial landscape.