H100 CEO adds shares as Bitcoin treasury holds 3,506 BTC

H100 CEO Eirik Grøttum has increased his exposure to the Swedish Bitcoin treasury company through purchases totaling 407,163 shares for SEK 621,887, while H100 continues to report 3,506.4 $BTC on its balance sheet.

H100 Group said in its Sept. 17 primary-insider disclosure that Kode Oslo AS carried out the purchases, with 405,663 shares acquired on Sept. 15 at an average SEK 1.53 and another 1,500 shares acquired on Aug. 19 at SEK 1.40. The combined average price was SEK 1.53 per share.

H100 CEO purchase lifts related holdings above 5.3 million

Kode Oslo now owns 2,771,787 H100 shares following the disclosed transactions. Grøttum serves on Kode Oslo’s board, owns 20% of the company and participates in its investment decisions, according to H100’s regulated notice.

A second associated entity, Olav Grøttum Holding AS, owns another 2,627,677 H100 shares. Grøttum owns that company entirely. Combined, the two businesses hold 5,399,464 H100 shares after the latest purchases.

The transaction concerns shares in H100 Group, not a new Bitcoin purchase by the company. H100’s disclosed Bitcoin position therefore remains separate from the CEO-related equity purchase.

Grøttum became H100’s chief executive on Aug. 11, one day after the company completed its large Norwegian Bitcoin-related acquisition. He previously served as CEO of Moonshot AS and had worked with H100 Chief Investment Officer Peter C. Warren managing Bitcoin holdings belonging to Geir Harald Hansen through Moonshot.

H100 said Grøttum’s background covers software development, quantitative trading, asset management and fintech. His appointment moved former CEO Johannes Wiik back into the chief operating officer role.

H100 still reports a 3,506.4 $BTC treasury

H100’s latest company disclosures continue to place its treasury at 3,506.4 $BTC. The position increased sharply on Aug. 10 when H100 completed its acquisition of NSD AS, which through a reorganization held Moonshot AS and PDI AS.

The transaction brought 2,455.37 $BTC into the group, taking H100 from 1,051.03 $BTC at the end of June to 3,506.4 $BTC. H100 said the acquired companies had no outstanding financial debt.

No cash was paid for that acquisition. H100 issued 790,534,666 new shares to the sellers at SEK 1.86 each, representing consideration of approximately SEK 1.47 billion. The new shares increased H100’s outstanding share count to 1,128,931,358 immediately after the transaction.

The share issue represented roughly 70% of H100’s outstanding shares after closing. Geir Harald Hansen received a controlling position of approximately 69.2% through 781,676,551 shares following the deal, according to H100’s interim report.

H100 described the transaction as “the largest M&A transaction ever completed in the European Public Bitcoin Equity sector” and the first public-market acquisition completed on a Bitcoin-for-Bitcoin basis. Those descriptions are company claims and were not independently established across all European and global public-market transactions.

As crypto.news previously reported, the agreed valuation used Bitcoin at SEK 598,926.69, roughly $62,900, based on the Coinbase $BTC/SEK spot price at the specified July 31 reference time. The figure was an acquisition valuation benchmark, not an open-market purchase price for 2,455.37 $BTC.

Bitcoin exposure has become central to H100’s balance sheet

H100 began its Bitcoin treasury strategy on a much smaller scale. Its first purchase in May 2025 involved 4.39 $BTC, after which the company raised equity and convertible financing to build its holdings.

The Bitcoin exposure has made H100’s reported earnings sensitive to cryptocurrency prices. Its second-quarter report showed an operating loss of SEK 88.7 million and a pre-tax loss of SEK 98.2 million. H100 said SEK 93.3 million of the pre-tax loss consisted of items that did not affect cash flow.

For the first half of 2026, the company reported a SEK 253.6 million pre-tax loss, while operating cash flow was negative SEK 12.7 million. Its equity ratio stood at 86% at June 30.

As crypto.news reported after the results, much of the quarterly accounting loss was linked to a non-cash write-down associated with Bitcoin’s lower valuation during the reporting period.

Grøttum wrote in the interim report that simply raising funds to accumulate Bitcoin was “unlikely to be sufficient on its own” for treasury companies. He said H100 planned to use capital allocation, capital-markets activity, acquisitions and operating cash flow alongside its Bitcoin holdings. The statement describes management’s strategy and does not guarantee future returns.

H100 is considering future share buybacks

The insider purchase follows a separate H100 announcement on Sept. 16 concerning new Swedish share-repurchase rules. Starting Dec. 5, Swedish public companies whose shares trade on multilateral trading facilities will be permitted to repurchase and hold their own shares. The change covers NGM Nordic SME, where H100 trades.

Grøttum said repurchases could become one of several capital-allocation options, particularly when H100 shares trade below net asset value. His comments describe a potential future tool, not an announced repurchase program.

H100 explicitly said no decision has been taken to repurchase its own shares. Any future program would require authorization from shareholders followed by a board resolution and disclosure under the applicable rules. The company’s Sept. 17 insider filing did not announce a change to its Bitcoin treasury, leaving the latest disclosed balance at 3,506.4 $BTC.

Source: cryptonews.net