Bluebird Mining, a gold exploration company listed in the UK, has intensified its interest in Bitcoin by acquiring 756 ASIC mining rigs, which are expected to generate over 30 BTC through a streaming agreement.
On July 14, the company, which trades under the ticker BMV on the London Stock Exchange, announced the successful acquisition of a combination of Bitmain and Canaan machines that deliver a total hashrate of 63.7 PH/s.
The newly acquired rigs are part of a sophisticated plan to operate under a streaming model, allowing Bluebird to gain a share of future Bitcoin production without the need to manage the equipment directly.
Bluebird Ventures into the Bitcoin Streaming Market
This acquisition is set to mark Bluebird’s inaugural venture into “streaming Bitcoin” agreements—an approach commonly found in the gold mining sector but less frequently seen in the realm of digital assets.
The firm indicated that this innovative structure would allow it to engage with Bitcoin while minimizing operational risk and avoiding any inflation of its balance sheet.
Bluebird Mining Ventures #BMV establishing its direction this morning with new Chairman Sath at the helm, pioneering an innovative Gold + “digital Gold” Bitcoin Treasury strategy aimed at revolutionizing this emerging asset class. https://t.co/Nn9QHEwAPu Key highlights – “Over a
three-year period, the
— Align Research (@AlignResearch) July 14, 2025
Over a period of three years, this transaction is projected to generate more than 30 BTC, depending on existing network conditions and the finalized terms of the streaming agreements. Bluebird confirmed that no additional costs would be incurred once the streaming deal has been established.
Merging Traditional Extractive Strategies with Modern Cryptocurrency Opportunities
This recent initiative parallels Bluebird’s previously announced gold project in the Philippines, where it secured a 10% profit share for the duration of the mine’s operations, along with milestone bonuses of $250,000 for every 5,000 ounces of gold sold above the $3,000 per ounce mark. Both transactions reflect what the company describes as a broader transformation in its treasury strategy.
Bluebird is committed to developing long-term asymmetric exposure to both gold and Bitcoin by utilizing structured streams alongside direct asset holdings. A more comprehensive update regarding these developments is anticipated in the coming weeks.
Strategic Financial Moves as Bluebird Allocates £1 Million Toward Bitcoin
Non-executive chairman Sath Ganesarajah described the transaction as “a small but symbolic step in our roadmap.” He emphasized the company’s effort to build a portfolio of long-term asymmetric exposures that span both gold and Bitcoin.
Ganesarajah elaborated that this structure aligns with Bluebird’s objective of producing strong capital returns via astute asset positioning. Additionally, he confirmed that £1 million ($1.3 million) from a previous £2 million ($2.7 million) loan facility would be directed toward further Bitcoin acquisitions, coinciding with the appointment of a new CEO.
Increasing Importance of Treasury Strategies
In June, Bluebird outlined its plans to convert future mining revenues into Bitcoin while also maintaining stringent operating costs.
The company plans to retain Bitcoin as a long-term reserve asset on its balance sheet, viewing this strategic pivot both as a protective measure and as a transformative financial strategy. Management believes this approach will attract new shareholders and reflects growing confidence in decentralized finance.
Currently, Bluebird is advancing gold and silver projects through joint ventures in South Korea and the Philippines, revitalizing historic projects such as the Gubong, Kochang, and Batangas mines, with an estimated total gold resource of 1.8 million ounces.
With the cryptocurrency market currently valued at over $3.8 trillion and Bitcoin prices surging past $122,000, Bluebird’s timing may be fortuitous. As traditional mining companies increasingly diversify into digital assets, Bluebird aims to take a leading role in this evolving landscape.
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