H100 Group reported a pretax loss of 98 million Swedish kronor, about $10.3 million, for the second quarter of 2026 and 253 million kronor, about $25.9 million, for the first half, as Bitcoin's price decline triggered non-cash impairment charges of 93.3 million kronor in Q2 and 241.8 million kronor for the half year. Operating income remained modest at 3 million kronor in the quarter and 6.1 million kronor for the half year, up from 5.8 million kronor a year earlier, while the company said underlying business cash consumption was 5.1 million kronor in the quarter and 12.7 million kronor in the half, with 18.1 million kronor in cash at the end of June. H100 began its Bitcoin treasury strategy in May 2025 with 4.39 BTC and later raised more than $54 million through share and convertible debenture issues, with Blockstream CEO Adam Back among the early backers through convertible financing. Its largest expansion came through an all-share acquisition of Norwegian Bitcoin treasury firms Moonshot AS and Never Say Die AS, completed on August 10, which added about 2,455 BTC and lifted total holdings to 3,506.4 BTC, worth about $226 million at current prices. BitcoinTreasuries data cited in the report ranked H100 as Europe's second-largest listed Bitcoin treasury company behind Germany's Bitcoin Group and 26th globally among public companies by Bitcoin holdings, even as its shares were down about 24% year to date.