TLDR
- Swedish health tech firm H100 Group AB raised $2.2 million led by Blockstream CEO Adam Back to buy Bitcoin for its corporate treasury
- Adam Back contributed $1.4 million while other investors provided $800,000 through zero-interest convertible loans maturing in 2028
- The funding will allow H100 to purchase about 20 Bitcoin, adding to 4.39 Bitcoin already bought, for a total of roughly 24.57 Bitcoin
- H100 becomes Sweden’s first public company to adopt a Bitcoin treasury policy and among the first in Europe
- Company shares jumped 37% on the Bitcoin announcement and rose another 5.33% the following day
Swedish health technology company H100 Group AB has secured 21 million Swedish krona ($2.2 million) in new funding to purchase Bitcoin for its corporate treasury. The funding round was led by Blockstream CEO Adam Back, a well-known Bitcoin advocate and cypherpunk.
21,000,000 SEK has been raised in a convertible round led by the legendary @adam3us 🍊
Accelerating our Bitcoin treasury strategy and strengthening our focus on sovereign health — let’s build! pic.twitter.com/SrpbKM2TID
— H100 (@H100Group) May 25, 2025
The announcement came just days after H100 revealed its decision to adopt Bitcoin as part of its treasury strategy on May 22. This move makes H100 the first public company in Sweden to implement a Bitcoin treasury policy.
Adam Back personally contributed approximately $1.4 million to the funding round. The remaining $800,000 came from investment firms including Morten Klein, Alundo Invest AS, Race Venture Scandinavia AB, and Crafoord Capital Partners.
The capital was raised through convertible loans that carry zero interest and mature on June 15, 2028. Investors have the option to convert their loans into equity at a rate of 1.3 Swedish krona (11 US cents) per share.
If H100’s share price maintains a volume-weighted average price more than 33% above the conversion price for 60 trading days, the company can force conversion. A full conversion would create roughly 16,153,900 new shares, resulting in approximately 12% dilution.
Market Response and Bitcoin Purchases
H100’s stock price responded positively to the Bitcoin announcement. Shares jumped 37% on May 22 when the company first announced its Bitcoin strategy.
The stock continued rising the next day, gaining another 5.33% to reach 1.29 SEK (14 US cents) according to Bloomberg data. This price movement reflects investor interest in the company’s new direction.
H100 had already purchased 4.39 Bitcoin on May 22 as part of its initial treasury allocation. The new funding will allow the company to buy approximately 20.18 additional Bitcoin at current market prices.
This would bring H100’s total Bitcoin holdings to roughly 24.57 Bitcoin. The company plans to use all proceeds from the funding round specifically for Bitcoin purchases.
Company Background and Strategy
H100 operates in the health technology sector, selling tools for individuals seeking alternatives to traditional healthcare systems. CEO Sander Andersen described the company’s focus on serving people who don’t want to rely on “reactive health systems.”
Swedens first health company with Bitcoin Treasury strategy @H100Group
Supporting the sovereign individual and preventive health providers 🤝 pic.twitter.com/FSIxQZ81mJ
— Mr.Andersen (@Sanderandersenn) May 22, 2025
Andersen believes the Bitcoin community’s values of individual sovereignty align with H100’s target customers. The company aims to appeal to communities seeking more control over their health decisions.
The CEO sees connections between Bitcoin adoption and the company’s mission to provide proactive health solutions. This philosophical alignment influenced the decision to integrate Bitcoin into the corporate treasury.
H100 joins a growing number of companies holding Bitcoin on their balance sheets. According to BitcoinTreasuries.NET data, 112 public firms globally now hold Bitcoin as a treasury asset.
Only ten of these Bitcoin-holding companies are based in Europe, making H100 one of the early European adopters. The company’s decision positions it among the first in the region to embrace this treasury strategy.
The convertible loan structure provides flexibility for both H100 and its investors while funding the company’s Bitcoin acquisition plans through 2028.
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