Bitcoin-Focused H100 Group Plans $79 Million Capital Raise

Sweden’s H100 Group Secures Up to $79M in Convertible Loan From Blockstream CEO to Fuel Bitcoin Treasury Growth

H100 Group, a Stockholm-based health-tech company, has struck a high-profile deal with Blockstream CEO Adam Back, who has agreed to provide up to 750 million SEK (~$79 million) in convertible debt to support the company’s growing Bitcoin-focused treasury strategy.

The agreement begins with a 150 million SEK initial tranche (Tranche 6), priced at 6.38 SEK per share — a 33% premium to market — signaling investor confidence. Back also holds the option to participate in two additional 75 million SEK tranches, which may be upsized depending on market appetite.

Rather than pursuing a traditional equity raise, H100 opted for this convertible loan model to accelerate capital deployment while preserving operational flexibility. The structure also allows the company to bring in other investors on equivalent terms.

“Given the strong market reception, earlier tranches unexpectedly became in-the-money faster than anticipated,” said Back in a statement to CoinDesk. “I had expected conversions to occur gradually over time.”

As of June 2025, H100 holds 24.41 BTC, per BitcoinTreasuries.net, aligning it with a growing cohort of publicly traded companies using Bitcoin as a reserve asset. The company’s stock jumped 22% Monday following news of the funding round.

The move underscores H100’s intent to position itself not just as a health-tech innovator, but also as a strategic corporate player aligned with the broader institutional Bitcoin trend.