Adam Back leads $2.2M raise for Swedish health firm’s Bitcoin buys
Blockstream CEO Adam Back led a 21 million Swedish krona ($2.2 million) funding round for Swedish health tech company H100 Group AB, which plans to buy Bitcoin. The funding, secured through 0% interest convertible loans, will facilitate H100's pivot to Bitcoin purchasing. Back contributed approximately $1.4 million, with the remaining $800,000 from various investment firms. H100 aims to acquire around 20.18 Bitcoin, adding to the 4.39 Bitcoin purchased earlier, totaling approximately 24.57 Bitcoin. The loans mature on June 15, 2028, and can be converted into shares at a rate of 1.3 Swedish krona per share. H100 shares surged 37% following the Bitcoin announcement and rose an additional 5.33%. H100 is positioned as the first public company in Sweden to adopt a Bitcoin treasury policy, joining a growing trend among public firms holding Bitcoin as a treasury asset.
