Hassan Maishera
TL;DR
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H100 Group saw its stock rally 30% after raising $10m for its Bitcoin treasury.
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GameStop is also looking to raise $1.7 billion to buy more bitcoins, following in Strategy’s footsteps.
Sweden's H100 Group Joins List of Companies with Bitcoin Treasuries
Sweden-based H100 Group, a publicly-traded health and longevity company, announced on Wednesday that it has raised $10.5 million (SEK 101 million) from a group of crypto-focused investors, including Blockstream CEO Adam Back, UTXO Management, and several family offices.
In its press release, the company said the funding was split between SEK 69.65 million in two share issues and SEK 31.35 million in convertible loans. Thanks to this latest development, H100 shares surged 30% in the Wednesday session, and have now gained nearly 400% since the firm's first BTC purchase on May 22.
GameStop to Raise $1.7B to Buy Bitcoins
GameStop also announced on Wednesday that it intends to raise $1.75 billion via a convertible senior note offering. The company could use the funds to purchase more bitcoins, as it currently holds 4,710 BTC (around $500 million) after adding Bitcoin to its balance sheet earlier this year.
Its latest offering includes an option for purchasers to buy an additional $250 million in notes within two weeks of the initial issuance.
Bitcoin is currently down 1.55% and is trading below $108k after surging past the $110k mark earlier this week.
