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H100 targets 3,501 BTC in new Norway stock deal

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Metaplanet doubles down on Bitcoin buying amidst market crash

H100 Group has signed a letter of intent to buy Norwegian Bitcoin companies Moonshot AS and Never Say Die AS through an all-share deal. 

Summary

  • H100 plans an all-stock deal to acquire Moonshot and Never Say Die in Norway.
  • The proposed acquisition could raise H100’s Bitcoin holdings to about 3,501 BTC total.
  • If completed, H100 would become Europe’s second-largest listed Bitcoin treasury company by holdings.

If completed, the transaction would expand H100’s Bitcoin treasury and move the Sweden-listed company closer to the top tier of Europe’s public Bitcoin holders.

According to a press release, H100 said the proposed transaction would be carried out as a share-for-share acquisition. Under the plan, H100 would issue new shares to acquire all shares in Moonshot AS and Never Say Die AS, with no cash payment included in the structure.

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The company said this setup is designed to keep the sellers exposed to Bitcoin through shares in a listed company. H100 added that the final terms will be set in definitive agreements, while the deal remains subject to due diligence, corporate approvals, and stock exchange requirements.

Bitcoin holdings could rise to about 3,501 BTC

Bitcointreasuries data shows H100 currently holds 1,051 BTC. The company said the two target firms hold about 2,450 BTC combined, which would bring the total to about 3,501 BTC if the acquisition closes.

That total would place H100 just behind Germany’s Bitcoin Group among Europe’s listed Bitcoin treasury companies. Bitcointreasuries ranks H100 44th among public Bitcoin treasury companies worldwide at present, and the added holdings would move it well above its current standing.

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H100 chairman Sander Andersen said, 

“Scale, credibility and access to capital markets are increasingly important in the Bitcoin space, and this transaction would strengthen H100 in these areas.” 

That statement appeared in public reporting on the planned acquisition and outlined the company’s stated reason for the move.

The company has also completed the acquisition of Switzerland-based Future Holdings AG, showing that it is still building its Bitcoin treasury platform through deals. H100 said the new transaction would not change its listing structure or its role as the listed parent company.

AGM timing and share performance remain in focus

H100 expects to sign a definitive agreement by April 22. The company has said closing would come after its annual general meeting, but its current financial calendar lists the AGM on May 21, 2026.

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The proposed deal comes while H100 shares remain under pressure and Bitcoin treasury companies continue to face a weaker market environment.

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Crypto World

Stablecoins Do Not Threaten Banking Just Yet: Analyst

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Stablecoins Do Not Threaten Banking Just Yet: Analyst

The impact of stablecoins on the banking sector appears “limited” at the current phase of the adoption cycle, but banks could face increasing competition and an erosion of market share as the stablecoin sector and tokenized real-world assets (RWAs) grow in market capitalization. 

“So far, the use of stablecoins remains limited, but their market capitalization exceeded $300 billion at the end of last year,” Abhi Srivastava, associate vice president of Moody’s Investors Service Digital Economy Group, told Cointelegraph.

The stablecoin market cap has surged past $300 billion. Source: RWA.xyz

The role of stablecoins in payments, cross-border commerce and onchain finance is “expanding,” despite their currently limited role, Srivastava said, adding that existing payment systems in the US are already “fast, low-cost and trusted.” He said:

“For the banking sector, at this stage, disruption risk appears limited. In the near term, US rules that prohibit stablecoins from paying yield mean they are unlikely to replace traditional deposits at scale domestically.”

However, over time, growing adoption of stablecoins and tokenized RWAs, traditional or physical financial assets represented on a blockchain by a token, could place “pressure” on the banking sector, leading to deposit outflows and reduced lending capacity, he said.

Stablecoin regulatory policy has become a hot-button issue among crypto industry executives and those in the banking sector, with fears that yield-bearing stablecoins could erode banking market share proving to be a stumbling block for the CLARITY crypto market structure bill in Congress. 

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Related: Stablecoins behave like FX markets as liquidity splits: Eco CEO

CLARITY Act stalled, as banks fight yield-bearing stablecoins

The Digital Asset Market Clarity Act of 2025, also known as the CLARITY Act, is a comprehensive crypto market regulatory framework that establishes an asset taxonomy, regulatory jurisdiction and oversight over the crypto markets.

The CLARITY crypto market structure bill. Source: US Congress

It is now stalled in Congress after a group of crypto industry companies, led by cryptocurrency exchange Coinbase, publicly stated opposition to earlier drafts of the bill.

A lack of legal protections for open-source software developers and a prohibition on yield-bearing stablecoins were among some of the most contentious issues cited by crypto industry opponents of the legislation.

Several attempts have been made by US lawmakers and the White House to negotiate a bill acceptable to both the crypto industry and the bank lobby.

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Earlier this month, North Carolina Senator Thom Tillis said he plans to release an updated draft bill proposal that would be acceptable to both sides; however, the bill has reportedly received pushback, according to Politico, and has yet to be publicly released. 

However, other crypto industry executives and market analysts have warned that if the CLARITY Act fails to pass, it could open the crypto industry up to future regulatory crackdowns by hostile lawmakers and officials.

Magazine: Stablecoins will see explosive growth in 2025 as world embraces asset class