H100 CEO Boosts Stake as Bitcoin Treasury Remains Unchanged

The purchase, executed through the associated entity Kode Oslo AS, marks a notable consolidation of control for Grøttum. Following the acquisition of 405,663 shares on September 15 and a smaller purchase in August, Kode Oslo now holds 2,771,787 shares. When combined with his wholly owned firm, Olav Grøttum Holding AS, Grøttum’s associated companies control a total of 5,399,464 shares in the Swedish Bitcoin-focused group.

Grøttum assumed the CEO role on August 11, immediately following H100’s acquisition of NSD AS. That transaction, which utilized 790.5 million new shares as consideration, added 2,455.37 BTC to the corporate treasury without requiring cash. While the company’s Bitcoin holdings have tripled since June, the firm continues to navigate financial volatility; recent interim reports highlighted a pre-tax loss of SEK 98.2 million, largely driven by non-cash write-downs related to cryptocurrency valuations.

Beyond equity accumulation, leadership is weighing future capital-allocation strategies. With Swedish regulators set to permit share repurchases on the NGM Nordic SME exchange starting December 5, Grøttum indicated that buybacks could become a tool for the company if shares trade below net asset value. No formal repurchase program has been authorized, and management maintains that their current priority remains a balanced approach between software-driven operations and the active management of their multi-thousand Bitcoin treasury.