Swedish health tech giant H100 Group has secured an initial $15.82 million convertible loan from Adam Back to accelerate its BTC accumulation strategy, with plans for additional tranches. On June 16, Swedish-listed H100 Group announced that it had signed a new investment agreement with Adam Back, CEO of Blockstream, securing an initial convertible loan guarantee of 150 million SEK (approximately $15.82 million). The funds raised from this convertible loan will be used to purchase Bitcoin (BTC) as part of H100 Group’s long-term Bitcoin asset allocation strategy.This comes on the heels of an earlier capital raise announced in late May, when H100 Group secured 21 million SEK (approximately $2.2 million) through 0% interest convertible loans. The funding round was also led by Adam Back, who invested $1.4 million, with additional contributions totaling $800,000 from investment firms including Morten Klein, Alundo Invest AS, Race Venture Scandinavia AB, and Crafoord Capital Partners. H100’s latest raise reflects a broader trend among European firms turning to structured financing to fund Bitcoin accumulation. Earlier this month, The Blockchain Group, listed on Euronext Growth Paris, received shareholder approval to raise over €10 billion for Bitcoin purchases via a mix of bonds and equity issuances. You might also like: Swedish health tech firm H100 secures $2.2m via convertible loans to buy Bitcoin Several other European firms are also pursuing aggressive Bitcoin accumulation strategies. Notably, the U.K.-listed technology and digital services provider, The Smarter Web Company, recently invested approximately £2 million (around $2.7 million) in Bitcoin, adding 24.54 BTC to its crypto treasury and bringing its total holdings to 83.24 BTC. In April, U.K.-listed Abraxas Capital also made headlines with an acquisition of nearly 3,000 BTC, representing an investment of roughly $250 million. Meanwhile, analysts remain divided on the rise of corporate Bitcoin treasuries. While some see it as a forward-thinking financial strategy, others caution against the significant risks involved. Journalist Sean Williams recently criticized many of these firms as unprofitable entities relying on Bitcoin as a speculative lifeline, describing the trend as a “dumpster fire in the making.” You might also like: The Blockchain Group gets shareholder backing to raise over €10B for Bitcoin expansion