Saylor's 'Light' $77M BTC Appetizer & H100's European Acquisition Feast: The Treasury Wars Rage On

H100 Group, a Stockholm-listed firm that essentially exists to hold bitcoin on a balance sheet, has decided to get bigger by gobbling up its neighbors. The company has inked a letter of intent to acquire Norwegian peers Moonshot AS and Never Say Die AS, a move that's less about synergy and more about pure BTC aggregation. This proposed bitcoin-for-bitcoin deal would roughly triple H100’s stash to around 3,500 BTC, effectively crowning it the heavyweight champion of Europe's publicly-listed bitcoin treasury scene—a title that currently comes with more clout on Crypto Twitter than actual revenue.

In a refreshingly honest transaction that bypasses fiat entirely, the deal is structured as a direct bitcoin-for-bitcoin exchange. This keeps the precious sats-per-share ratio intact for existing bagholders. The target companies collectively hold about 2,450 BTC, which is a decent haul by any standard. The parties aim to sign definitive paperwork by April 22, with the whole shebang expected to close shortly after H100’s annual general meeting in May, assuming no one gets distracted by a meme coin pump.

Over in the land of the OG corporate HODLer, Michael Saylor's MicroStrategy continued its relentless quest to turn its balance sheet into a digital fortress, albeit at a slightly less frenetic pace. The company casually scooped up another 1,031 bitcoin last week for a mere $76.6 million, bringing its legendary treasury to a staggering 762,099 BTC. The average price paid was $74,326 per coin, which is still a bargain compared to the company's overall average cost basis of $75,694—a number that gives diamond hands a good name.

This latest, relatively modest purchase was funded through the classic corporate maneuver of selling more stock, proving that dilution is just a tool when your underlying asset is digital gold. The buy represents a significant cooldown from the previous two weeks, when MicroStrategy went full degen and bought over $1 billion worth of bitcoin. For context, bitcoin was trading around $70,000 at the time of this purchase, making it a relative discount bin special.

Not content with just buying bitcoin, MicroStrategy also unveiled plans to supercharge its fundraising artillery, filing for the ability to issue up to a mind-bending $44 billion in additional securities. This war chest includes $21 billion in common stock (MSTR), another $21 billion in its STRC preferred stock, and $2.1 billion in STRK preferred stock, because why have one ticker when you can have three?

The company has expanded its sales syndicate to 19 agents, essentially building a financial firing squad to monetize its equity. It stated the proceeds may be used for, you guessed it, more bitcoin purchases and other corporate needs. MicroStrategy's publicly stated, almost comically audacious goal is to accumulate one million bitcoin by the end of the year, a target that makes every other corporate treasury strategy look like a casual savings account.