David Edwards
One of the biggest corporate Bitcoin purchase plans outside of the crypto-native sector has been announced by Norwegian deep-sea mining company Green Minerals AS, which has announced a strategic initiative to create a $1.2 billion Bitcoin treasury. A larger blockchain adoption strategy aimed at diversifying the company’s assets beyond conventional fiat currencies is in line with the Monday announcement.
Citing Bitcoin’s long-term potential as a hedge against currency devaluation, Executive Chair Ståle Rodahl said the cryptocurrency is a “attractive alternative to traditional fiat.” “With significant future capital expenditures planned for production equipment, the program offers a robust hedge against fiat risks,” Rodahl emphasized.
Imminent First Bitcoin Purchase
According to Green Minerals, it will start buying Bitcoin in the next few days with the goal of acquiring about 11,255 BTC at the current market price of about $106,500 per coin. The project will be funded through organized initiatives in collaboration with other organizations, with a maximum total expenditure of $1.2 billion.
The company will measure Bitcoin holdings per share using a key performance indicator (KPI) as part of the rollout, giving investors more information about how the digital asset affects business valuation.
Integrating Blockchain for Transparency in Operations
Green Minerals revealed ambitions to incorporate blockchain technology into its main business activities in addition to purchasing Bitcoin. The business mentioned possible uses for operational effectiveness, supply chain transparency, and verification of material origin—areas that are fast gaining attention in the resource extraction sector.
The company claimed that blockchain technology is crucial to mining, “ensuring traceability and readiness for evolving regulatory requirements.”
Market Reaction: After the Announcement, Stock Volatility
The announcement was met with a mixed response from investors. On Monday, Green Minerals’ stock jumped 300%, ending at €0.68 (about $0.79). According to Google Finance, the stock fell more than 34% on Tuesday to settle at €0.44 ($0.51), indicating that this rise was short-lived.
The market’s response is consistent with patterns seen in other businesses that have lately revealed comparable plans to acquire Bitcoin. The announcement of a $100 million Bitcoin investment plan in May caused shares of Indonesian fintech DigiAsia Corp to jump 91%. On the other hand, despite a similar move, the shares of Norwegian brokerage K33 remained unchanged.
