Swedish health tech giant H100 Group has secured an initial $15.82 million convertible loan from Adam Back to accelerate its BTC accumulation strategy, with plans for additional tranches.
On June 16, Swedish-listed H100 Group announced that it had signed a new investment agreement with Adam Back, CEO of Blockstream, securing an initial convertible loan guarantee of 150 million SEK (approximately $15.82 million). The funds raised from this convertible loan will be used to purchase Bitcoin (BTC) as part of H100 Groupโs long-term Bitcoin asset allocation strategy.
This comes on the heels of an earlier capital raise announced in late May, when H100 Group secured 21 million SEK (approximately $2.2 million) through 0% interest convertible loans. The funding round was also led by Adam Back, who invested $1.4 million, with additional contributions totaling $800,000 from investment firms including Morten Klein, Alundo Invest AS, Race Venture Scandinavia AB, and Crafoord Capital Partners.
H100โs latest raise reflects a broader trend among European firms turning to structured financing to fund Bitcoin accumulation. Earlier this month, The Blockchain Group, listed on Euronext Growth Paris, received shareholder approval to raise over โฌ10 billion for Bitcoin purchases via a mix of bonds and equity issuances.
Several other European firms are also pursuing aggressive Bitcoin accumulation strategies. Notably, the U.K.-listed technology and digital services provider, The Smarter Web Company, recently invested approximately ยฃ2 million (around $2.7 million) in Bitcoin, adding 24.54 BTC to its crypto treasury and bringing its total holdings to 83.24 BTC. In April, U.K.-listed Abraxas Capital also made headlines with an acquisition of nearly 3,000 BTC, representing an investment of roughly $250 million.
Meanwhile, analysts remain divided on the rise of corporate Bitcoin treasuries. While some see it as a forward-thinking financial strategy, others caution against the significant risks involved. Journalist Sean Williams recently criticized many of these firms as unprofitable entities relying on Bitcoin as a speculative lifeline, describing the trend as a โdumpster fire in the making.โ
