H100 Gets $2.2 Million Capital Injection to Add More Bitcoin, Adam Back Invests

Swedish health tech company H100 Group AB is doubling down on Bitcoin. A fresh $2.2 million capital injection, led by Blockstream CEO Adam Back, will now fuel the company’s latest crypto strategy.

Good to know

• Adam Back contributed about $1.4 million to the new funding round.
• H100 plans to use all the funds to buy Bitcoin directly.
• Loans were issued with 0% interest and carry a conversion option into shares.

H100 Group announced on May 25 that it secured 21 million Swedish krona through convertible loans. These loans carry no interest and will mature in mid-June 2028. The move follows its earlier statement from May 22, when it disclosed a shift in focus toward holding Bitcoin.

The funding round was not limited to Back. Several firms joined the effort, including Crafoord Capital Partners, Race Venture Scandinavia AB, Alundo Invest AS, and Morten Klein. Their combined support brought in another $800,000.

The funds will help H100 acquire around 20.18 Bitcoin at current prices. That would bring the company’s total holdings to roughly 24.57 Bitcoin, including the 4.39 Bitcoin already purchased on May 22.

The structure of the funding gives H100 and the investors some flexibility. The loans can be converted into shares at any time at a fixed rate of 1.3 Swedish krona, or about 11 cents per share. If the stock price consistently trades 33% higher than that rate for 60 trading days, H100 has the right to force conversion into equity.

In that scenario, about 16.15 million new shares could be issued, causing a 12% dilution of existing shares. H100 sees this setup as a way to align long-term investor interest with its Bitcoin buying plan.

Adam Back, a long-time supporter of Bitcoin and cypherpunk values, has backed several Bitcoin-related initiatives before. His strong backing of H100 surely adds weight to the company’s new direction.