Norway Deep-Sea Mining Company Plans $1.2B Bitcoin Acquisition

     

Green Minerals Eyes Long-Term Bitcoin Treasury and Blockchain Strategy

Norwegian seabed mining company Green Minerals AS has announced plans to establish a Bitcoin treasury, with a goal of raising $1.2 billion to acquire and hold Bitcoin over the long term.

According to a Monday statement, the initiative is part of a broader blockchain adoption strategy intended to reduce reliance on fiat currencies and support the company’s upcoming project investments.

Executive chair Ståle Rodahl described Bitcoin as a “compelling alternative to traditional fiat,” stating that its inclusion on the company’s balance sheet is expected to help mitigate currency-related risks.

“With major capital expenditures on the horizon for equipment, this program offers a strong hedge against the erosion of fiat value,” Rodahl added.

First Bitcoin Purchase Expected Within Days

Green Minerals stated that, in partnership with its financiers, it aims to secure up to $1.2 billion to build its Bitcoin treasury, with the initial Bitcoin purchase anticipated in the coming days.

At current market prices near $106,500 per Bitcoin, the company could acquire approximately 11,255 BTC.

The firm also announced the introduction of a new performance indicator designed to track the Bitcoin value associated with each share.

Company Plans Broader Blockchain Integration

Beyond its Bitcoin initiative, Green Minerals also plans to integrate blockchain solutions across its operations to enhance competitiveness and align with future regulatory frameworks.

According to the company, blockchain will be utilized to improve supply chain transparency, certify mineral origins, and boost operational efficiency.

Stock Reacts to Bitcoin Plan

Shares of Green Minerals surged by 300% on Monday following the announcement, closing at 68 euro cents (approximately $0.79). However, the stock pulled back on Tuesday, dropping over 34% to 44 euro cents ($0.51), according to Google Finance.

Other companies have experienced similar volatility after announcing Bitcoin-focused strategies. In May, Indonesian fintech firm DigiAsia Corp saw its stock jump 91% after revealing plans to raise $100 million for Bitcoin purchases.

Not all firms have seen positive reactions. Norwegian brokerage K33, which also disclosed a Bitcoin accumulation strategy in May, saw its stock trade mostly flat, closing down 1.96%.