Bitcoin from the Mine: Norwegian mining company dives into BTC
In a bold strategic move, the Norwegian deep-sea mining company Green Minerals AS announced that it is launching a Bitcoin Treasury.
In a bold strategic move, the Norwegian deep-sea mining company Green Minerals AS announcedthat it is launching a Bitcoin Treasury. According to an official press release, the company aims to hedge against fiat currency risks, namely inflation and geopolitical instability.
Together with strategic partners, Green Minerals plans an accumulation of BTC worth up to $1.2 billion. That puts the company in the footsteps of other institutional players who view Bitcoin as digital gold.
“In these times of huge monetary expansion, a strong balance sheet is more important than ever,” says Ståle Rodahl, CEO of Green Minerals. “Bitcoin, with its decentralized and non-inflationary nature, is an attractive alternative to traditional currencies.”
The investment doesn't come out of nowhere: the company promises transparency to shareholders, including via a new metric called BTC per share (BTC/share), which will make the performance of the Bitcoin reserve more transparent.
Despite this shift in financial policy, Green Minerals stresses that the core mining strategy remains unchanged. The Bitcoin rollout should strengthen existing projects, not replace them.
Additionally, the company said it wants to roll out blockchain tech more widely across its operations to streamline processes, signaling this move isn't purely speculative but part of a broader digital transformation.
The market reacted enthusiastically: after the announcement, Green Minerals' stock jumped as much as 250%.
Green Minerals isn't the only company adding crypto to its balance sheet. For example, SharpLink Gaming recently invested $30 million in Ethereum.
Still, the strategy isn't risk-free: firms copying MicroStrategy's playbook also endure substantial volatility. Time will tell if Green Minerals is steering in the right direction.
