Sweden’s H100 soars 45% in a day after raising $10M for Bitcoin treasury

Swedish wellness tech steadfast H100 Group AB roseate 45% connected Wednesday aft announcing it raised 101 cardinal Swedish krona ($10.6 million) to accelerate the firm’s Bitcoin treasury strategy.

H100 closed astatine 4.64 krona ($0.49) connected the Nordic Growth Market banal exchange, bringing its stock terms maturation to 280% since announcing its Bitcoin (BTC) strategy connected May 22, MarketWatch data shows.

The $10.6 cardinal raise is astir 5 times larger than its erstwhile $2.2 cardinal raise led by Bitcoin cypherpunk Adam Back connected May 25.

Source: H100 Group

More companies are becoming Bitcoin companies by the week

H100’s latest rise to bargain much Bitcoin reflects a rising inclination among publicly traded firms astir the satellite that are adding Bitcoin to their equilibrium sheets. 

A full of 126 firm companies person done so, including 14 caller firms successful 3 weeks, BitcoinTreasuries.NET data shows.

$10M rise to boost Bitcoin strategy

The rise was divided betwixt 2 stock issues worthy 69.65 cardinal krona ($7.31 million) and convertible loans, contributing 31.35 cardinal krona ($3.29 million).

H100 said nett proceeds from the 2 “share issues volition beryllium utilized to accelerate the Company’s Bitcoin treasury strategy.” 

That could let the wellness and longevity-focused steadfast to bargain astir 67.1 Bitcoin — adding to its existing 13.95 BTC and bringing its full to 81.85 BTC.

The stock issues saw information from Adam Back, Bitcoin concern steadfast UTXO Management and respective Nordic concern firms similar Race Ventures Scandinavia and Crafoord Capital Partners.

Related: Bitcoin terms prepares for volatility arsenic spot proviso vanishes

The convertible loans transportation nary involvement and mature successful 5 years. Investors tin person the loans into equity astatine 1.75 krona per share, H100 said.

The raise, called “Tranche 1,” was bumped up to 31.35 cardinal krona aft initially being agreed connected astatine 21 cardinal krona. 

H100 says its attack to wellness and Bitcoin aligns

H100 sells health tools for individuals who don’t privation to trust connected the “reactive wellness system,” the company’s CEO, Sander Andersen, said connected May 22 erstwhile H100 announced its archetypal Bitcoin purchase.

“The values of idiosyncratic sovereignty highly contiguous successful the Bitcoin assemblage aligns good with, and volition entreaty to, the customers and communities we are gathering the H100 level for,” Andersen said.

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