Norwegian Deep Sea Mining Firm Plans $1.2B Bitcoin Treasury
Green Minerals AS plans to create a Bitcoin treasury and aims to raise $1.2 billion to purchase and hold Bitcoin long-term. This initiative is part of a broader blockchain strategy to diversify investments from fiat currencies and support future projects. Executive chair Ståle Rodahl views Bitcoin as an attractive alternative to fiat, helping mitigate fiat risks amid significant capital expenditures. The company intends to buy its first Bitcoin within days, potentially acquiring approximately 11,255 Bitcoin at current prices. Green Minerals will also implement a key performance indicator to track Bitcoin value per share and plans to adopt blockchain technology for supply chain transparency and operational efficiency. Following the announcement, shares surged 300% but dropped over 34% the next day.
