Swedish health firm raises $10M to buy Bitcoin, stock jumps 45%
H100 Group’s shares surged after the Swedish health firm announced it had raised $10.6 million to stack more Bitcoin.
Swedish health tech firm H100 Group AB rose 45% on Wednesday after announcing it raised 101 million Swedish krona ($10.6 million) to accelerate the firm’s Bitcoin treasury strategy.
H100 closed at 4.64 krona ($0.49) on the Nordic Growth Market stock exchange, bringing its share price growth to 280% since announcing its Bitcoin (BTC) strategy on May 22, MarketWatch data shows.
The $10.6 million raise is nearly five times larger than its previous $2.2 million raise led by Bitcoin cypherpunk Adam Back on May 25.