Key Highlights:
- Norwegian firm Green Minerals plans $1.2 billion Bitcoin investment with partners.
- Move aligns with company’s broader blockchain integration vision.
- Stock dropped 35% following the announcement amid political and environmental scrutiny.
Bitcoin Treasury Move from the Deep Sea to the Blockchain
Green Minerals, a Norwegian company listed on Euronext Growth Oslo, announced a major pivot into digital assets, revealing plans to establish a Bitcoin treasury valued up to $1.2 billion in partnership with unnamed entities. The first BTC purchase is expected within days. The firm specializes in deep sea mineral mining and views Bitcoin as a long-term hedge against currency devaluation. Executive Chairman Ståle Rodahl emphasized the strategic fit, citing Bitcoin’s non-inflationary properties and the firm’s need for robust long-term financial tools.Blockchain Integration Beyond Investment
The announcement clarified that Green Minerals' core operations remain focused on mineral mining, but the Bitcoin initiative supports its broader push into blockchain-based solutions. The firm believes blockchain will be key in boosting transparency and verifying mineral origin in the mining industry. Despite the bold move, the company’s stock plummeted nearly 35% after the announcement. This follows Norway’s uncertain regulatory stance on deep sea and crypto mining, with authorities reviewing possible bans on energy-intensive mining operations.
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