A Swedish company most people have never heard of just quietly assembled one of the largest public Bitcoin treasuries on the planet. H100 Group AB has acquired both UK-listed The Smarter Web Company PLC and French-listed Capital B, combining their Bitcoin holdings into a single entity that now ranks as the 26th-largest public Bitcoin treasury company worldwide.
The combined stash totals over 6,900 BTC. At current prices, that’s a war chest worth north of $700 million, assembled not through a single massive purchase but through corporate M&A.
How the numbers stack up
The math is straightforward. Capital B contributed the largest chunk at 3,140 BTC. The Smarter Web Company brought 2,712 BTC to the table. H100 Group itself held 1,051 BTC before the deals closed.
Capital B had launched its Bitcoin treasury strategy on November 5, 2024, with an ambitious target: acquiring 1% of Bitcoin’s total supply by 2033. That would mean roughly 210,000 BTC, so 3,140 is a start, but the runway is long. In 2025, Capital B raised approximately €11.5 million through equity and convertible instruments to fund additional BTC purchases.
