Green Minerals, a Norwegian deep-sea mining company, announced on Monday its intention to begin acquiring Bitcoin as part of a strategic initiative to enhance its engagement with blockchain technology. The firm aims to raise up to $1.2 billion to expand its Bitcoin reserve.
This move signifies an increasing interest from corporations in Bitcoin as a method to combat inflation and financial instability.
In its statement, Green Minerals revealed the implementation of a Bitcoin Treasury Strategy aimed at diversifying its assets away from traditional fiat currencies and bolstering its financial standing.
Green Minerals Advocates for Bitcoin as a Shield Against Currency Debasement
Ståle Rodahl, Executive Chairman, characterized this strategy as a logical alignment for a business with long-term capital requirements and a future-oriented perspective. He emphasized that Bitcoin’s deflationary properties provide a safeguard against currency devaluation amid “significant monetary expansion.”
The company plans to acquire its initial Bitcoin holdings in the near term and will collaborate with industry experts to create a transparent and secure management framework for these assets.
Moreover, Green Minerals will introduce a novel metric called Bitcoin per share (BTC/share), designed to provide shareholders with a clear representation of the value of their equity linked to this digital asset.
Company Asserts Bitcoin Will Enhance Capital Access Without Altering Core Mission
According to Green Minerals, this new strategy is intended to complement its existing operations rather than replace them. The Bitcoin reserves are seen as a source of funding for substantial equipment needs and ongoing project development.
The firm also envisions blockchain technology as a means of boosting transparency in mineral sourcing, ensuring supply chain integrity, and adhering to regulatory standards—areas where Norwegian mining companies are facing heightened scrutiny.
This capital-raising effort forms part of a broader program dubbed the Partnership for Responsible Production, which acknowledges digital assets as a crucial component of the company’s growth strategy. Green Minerals believes Bitcoin can function as both a treasury asset and a strategic tool to navigate capital markets more efficiently.
Green Minerals Aligns with Growing Trend of Firms Leveraging Bitcoin for Expansion
The company’s decision to engage with Bitcoin aligns it with a burgeoning trend among publicly listed companies that are incorporating Bitcoin into their balance sheets. Research by Standard Chartered indicates that over 60 non-cryptocurrency firms have adopted Bitcoin reserves in recent years, inspired by the model established by MicroStrategy. The latter’s aggressive accumulation of Bitcoin, which began in 2020, significantly increased its stock value by more than 3,000%.
For firms like Green Minerals, gaining exposure to Bitcoin provides an advantage that individual investors may find difficult to achieve. Public companies often have the capability to raise capital through convertible debt markets, allowing them to acquire substantial Bitcoin positions on a larger scale. This capacity, combined with the tendency for their stocks to trade at a premium relative to the underlying cryptocurrency assets, positions corporate adoption as a potent financial strategy.
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