Norwegian Mineral Mining Firm Eyes $1.2 Billion Raise for Bitcoin Treasury
Norway’s Green Minerals will invest up to $1.2 billion to establish a Bitcoin treasury, aiming to acquire its first Bitcoin in the coming days. The company emphasizes Bitcoin's decentralized and non-inflationary properties as a hedge against fiat risks and a commitment to financial innovation. Despite this new initiative, Green Minerals maintains that its core operational strategy remains unchanged and that the Bitcoin treasury will support its project plans. The company also highlights blockchain's potential for enhancing supply chain transparency and operational efficiency in mining. Approximately 245 public companies now hold Bitcoin, with total holdings exceeding $88 billion. Green Minerals' stock price fell nearly 35% following the announcement, amid ongoing concerns about deep sea mining regulations in Norway and a potential temporary ban on new power-intensive crypto mining operations.
