H100 to Acquire Bitcoin Treasury Future Holdings Backed by Adam Back

TLDR

• Future Holdings AG has signed a non-binding letter of intent with Sweden-listed H100 Group.
• The proposed acquisition values Future Holdings at around 600,000 Swiss francs or approximately $753,000.
• The purchase price will be paid in newly issued H100 shares based on the latest closing price.
• Adam Back co-founded Future Holdings in November 2025 with Richard Byworth and Sebastien Hess.
• H100 received a $2.1 million convertible loan from Adam Back in June 2025 with an option for additional investment.

Switzerland-based Bitcoin treasury company Future Holdings AG may soon be acquired by Sweden-listed H100 Group, following a preliminary agreement. The companies signed a non-binding letter of intent outlining terms for the acquisition of all outstanding Future Holdings shares. Both parties expect to finalize and close the transaction by January 2026, subject to approvals and due diligence.

H100 to Acquire Future Holdings for $753,000

H100 Group plans to purchase 100% of Future Holdings in a transaction valued at roughly 600,000 Swiss francs or $753,000. This includes a base valuation of 375,000 Swiss francs, with the remainder based on Future’s current cash position. The final amount will be settled in H100 shares, priced at the closing rate before the letter of intent.

Richard Byworth, Chairman of Future Holdings, said the merger enhances institutional trust in the Swiss market. “Combining Future with H100 creates a public-market platform and governance framework,” Byworth stated in the joint release. He highlighted that public listing helps build long-term credibility with institutional investors.

Future Holdings was co-founded in November 2025 by Adam Back, Richard Byworth, and Sebastien Hess. The company raised $35 million during its launch to build its Bitcoin treasury reserves. This acquisition gives H100 direct access to those assets and local expertise in Switzerland.

Adam Back and H100’s Strategic Relationship

In June 2025, Adam Back provided H100 with a $2.1 million convertible loan, adding to his broader support for Bitcoin treasuries. The agreement included the option for H100 to receive a further $12.8 million investment if conditions were met. This funding helped solidify the strategic alignment between H100 and Future Holdings.

Back has previously backed other Bitcoin treasury companies including Capital B in France and The Bitcoin Standard Treasury. His involvement has helped position these firms as focused players in Bitcoin accumulation. During mid-2025, Back described corporate Bitcoin adoption as the “new altcoin season” for traders.

H100 sees this acquisition as part of a broader European expansion strategy beyond its Nordic home base. Chairman Sander Andersen emphasized that Switzerland remains central to attracting institutional Bitcoin allocations. “Future brings relevant local experience, and we see Switzerland as a key market,” Andersen said.

The agreement remains subject to corporate and regulatory approvals. Both companies anticipate completing all processes in January 2026. The final purchase will proceed after negotiation of binding agreements and successful due diligence.

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