Share this article
Bitcoin treasury firms linked to Adam Back sign preliminary agreement to combine
The proposed deal would take Sweden-based H100 into Switzerland and deepen its institutional bitcoin treasury strategy.
Updated Jan 12, 2026, 11:13 a.m. Published Jan 12, 2026, 9:22 a.m.
Make us preferred on Google
What to know:
- H100, which holds 1,046 BTC, operates as a publicly listed bitcoin treasury views the acquisition of Future Holdings as a strategic step toward establishing a Swiss presence and scaling its treasury operations.
- Future Holdings, in November raised $35 million to build an institutional, balance sheet driven bitcoin treasury platform.
- Both companies are backed by Adam Back, a co-founder of Blockstream.
Two companies backed by Adam Back, a British cryptographer and co-founder of Blockstream, started on the path to amalgamate to strengthen their bitcoin 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.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
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 0.6% to 2.33 kronor (25 cents), bringing the year-to-date gain to 23%.
AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
More For You
Crypto slides as tech stocks and gold retreat; bitcoin-Nasdaq correlation turns positive
Bitcoin falls to $68,000 as tech-led risk-off move deepens, gold extends correction and memecoins lead altcoin losses amid BTC dominance range.
What to know:
- Bitcoin is down 1.25% to $68,000, tracking weakness in Nasdaq futures and a 2.4% drop in gold as risk sentiment sours.
- BTC’s correlation with the Nasdaq has swung from -0.68 to +0.72 since Feb. 3, underscoring tighter ties to tech stocks.
- Memecoins PEPE, DOGE and TRUMP led altcoin losses, while MORPHO and ZEC outperformed over the past week.
