TLDR
- H100 acquires Moonshot AS & Never Say Die AS in share-based bitcoin deal.
- Combined holdings exceed 3,500 BTC, boosting treasury scale and liquidity.
- Transaction keeps proportional bitcoin exposure, no dilution occurs.
- Target teams bring trading and hedge fund expertise to H100.
- Integration expands H100’s market influence and capital markets strategy.
H100 has signed a letter of intent to acquire Moonshot AS and Never Say Die AS in Norway. The deal will exchange the target companies’ bitcoin holdings for newly issued H100 shares. Following completion, H100 will hold approximately 3,501 BTC, strengthening its position among European listed bitcoin treasury companies.
The transaction follows a bitcoin-for-bitcoin structure, keeping all shareholders’ proportional exposure intact. H100 will gain a larger balance sheet and increased market relevance through this transaction. This strategy aims to expand H100’s capital markets positioning while preserving underlying bitcoin exposure.
The acquisition brings an experienced technology and investment team to H100. Their expertise will complement H100’s existing treasury and capital markets operations. The combined network includes prominent bitcoin pioneers, enhancing H100’s strategic influence in the sector.
Transaction Structure and Strategic Rationale
H100’s acquisition of Moonshot AS and Never Say Die AS will be fully share-based. Ownership in H100 post-deal will depend entirely on bitcoin contributed by each party. No dilution of bitcoin exposure occurs while the company expands its financial footprint.
The target companies hold approximately 2,450 bitcoin, while H100 currently manages around 1,051 BTC. Together, the combined holdings will exceed 3,500 bitcoin, solidifying H100’s treasury scale. The move also positions H100 for greater liquidity and institutional engagement.
H100 aims to enhance operational capacity in bitcoin accumulation and treasury management. The company will continue executing its capital markets strategy with added support from the target teams. The acquisition aligns with H100’s objective of developing a leading European listed bitcoin treasury company.
Target Companies and Leadership Integration
Moonshot AS and Never Say Die AS focus on bitcoin accumulation and investment strategies. The target companies are led by experienced professionals with backgrounds in systematic trading and hedge fund management. Their expertise supports H100’s long-term bitcoin treasury goals.
Geir Harald Hansen, founder of the Bitminter mining pool, owns the target companies. Bitminter historically mined over 208,000 BTC, representing about 1% of total bitcoins in existence. The acquisition brings a deep knowledge of bitcoin markets into H100’s operations.
H100 will retain its existing management, including CEO Johannes Wiik and Chairman Sander Andersen. Leadership from Moonshot AS and Never Say Die AS will integrate into H100’s board and management. This structure maintains continuity while leveraging complementary expertise to strengthen the company’s market position.
