Key Takeaways
- H100 Group AB purchased 4.39 Bitcoin for $490,830, triggering a 37% share price jump.
- Chinese EV firm Jiuzi Holdings plans to buy 1,000 Bitcoin over the next year.
- BitcoinTreasuries.NET reports that 109 public firms now hold Bitcoin on their balance sheets.
Shares of Swedish health tech company H100 Group AB rose 37% on May 22 following the firm’s announcement that it had purchased Bitcoin as part of a new treasury strategy.
The company bought 4.39 BTC for 5 million Norwegian krone (around $490,830) at an average price of $111,785 per coin.
The stock closed at 1.22 Swedish krona ($0.13) on the Nordic Growth Market, recovering a significant portion of the losses it suffered earlier this year.
H100 shares had fallen over 46% in the prior two months.
CEO Sander Andersen framed the move as part of a broader alignment with the values of Bitcoin, emphasizing personal sovereignty and proactive health.
He said:
The values of individual sovereignty highly present in the Bitcoin community aligns well with… the customers and communities we are building the H100 platform for.
Andersen referred to the purchase as “Phase 1,” suggesting additional Bitcoin acquisitions may follow.
Jiuzi Holdings’ Bitcoin acquisition plan
Separately, Chinese electric vehicle retailer Jiuzi Holdings (Nasdaq: JZXN) announced that its board had approved a plan to acquire 1,000 Bitcoin over the next year.
The purchases will be funded through stock issuance and cash.
Jiuzi CEO Tao Li acknowledged the asset’s volatility but said the move aims to enhance the firm’s asset structure and long-term profitability.
JZXN shares rose 7.3% to $3.09 following the news.
