H100 enters non-binding deal to acquire Swiss Bitcoin treasury Future Holdings

Future Holdings AG, a Switzerland-based Bitcoin treasury company backed by Adam Back, has entered a non-binding letter of intent with Sweden-listed H100 Group covering a potential acquisition of 100% of its shares. Future’s chairman Richard Byworth said in a joint statement that “combining Future with H100 creates a public-market platform and governance framework that we believe is essential for building long-term institutional credibility in the Swiss market.” Future was co-founded by Back, Byworth and Sebastien Hess in November 2025 and initially raised $35 million for its BTC treasury.

Back also provided H100 with a $2.1 million convertible loan in June 2025, with an option to invest an additional $12.8 million. The proposed transaction values Future at about 375,000 Swiss francs (roughly $471,000), plus the company’s cash balance at closing. Based on Future’s current cash position, the companies said the total purchase price is expected to be about 600,000 Swiss francs (roughly $753,000).

The purchase price is expected to be paid in newly issued H100 shares at the closing price on the last trading day before the letter of intent. The deal remains subject to due diligence, negotiation of definitive agreements and the receipt of required corporate and regulatory approvals.

The companies said they expect signing and closing to take place in January 2026.

Key Topics

Crypto, Future Holdings, Switzerland, Adam Back, Bitcoin Treasury, Richard Byworth