Bitcoin treasury firms linked to Adam Back sign preliminary agreement to combine

Two companies backed by Adam Back, a British cryptographer and co-founder of Blockstream, started on the path to amalgamate to strengthen their bitcoin BTC$90,712.89 treasury management capabilities.

H100 Group (H100) a Swedish health-technology company with 1,046 BTC, signed a letter of intent to buy all of Future Holdings AG, a Zurich-based bitcoin treasury company. In November, Future raised $35 million to build an institutional, balance-sheet driven bitcoin strategy designed to bridge traditional finance and global capital markets. It hasn’t disclosed its bitcoin holdings.

If completed, the acquisition would support H100’s ambition to establish a local Swiss presence and further scale its Bitcoin treasury strategy. Switzerland is viewed as a key strategic market due to its strong currency, sophisticated investor base and deep capital markets. Letters of intent are typically non-binding and used to established the broad terms of the acquisition.

In addition to its health business, H100 operates as a publicly listed bitcoin treasury and capital markets company, focused on balance sheet optimization and providing institutional exposure to Bitcoin through public market structures.

H100 shares rose 6.% to 2.33 kronor (25 cents), bringing the year-to-date gain to 23%.