tl;dr
Norway's Green Minerals plans to invest up to $1.2 billion to establish a Bitcoin treasury, aiming to acquire its first Bitcoin soon as part of a broader blockchain investment strategy. The company highlights Bitcoin's decentralized and non-inflationary nature as a hedge against fiat currency risks....
Norway’s Green Minerals has announced plans to invest up to $1.2 billion to build a Bitcoin treasury, signaling a major shift in its financial strategy. The company aims to acquire its first Bitcoin in the coming days as part of a broader initiative to embrace blockchain technology while maintaining its core operations in deep-sea mining. Executive Chairman Ståle Rodahl emphasized Bitcoin’s decentralized and non-inflationary properties as key factors in using it to hedge against fiat currency risks and drive financial innovation.
This move places Green Minerals among a growing list of public companies accumulating Bitcoin as a corporate treasury asset. Currently, over 245 publicly traded firms hold more than $88 billion in Bitcoin, showcasing a significant trend toward digital asset integration. The company also highlighted blockchain’s potential to enhance supply chain transparency, certify mineral origin, and boost operational efficiency in mining.
Despite the bullish outlook on Bitcoin, Green Minerals’ stock price tumbled nearly 35% following the announcement, reflecting market skepticism or short-term profit-taking. The timing is notable as Norway recently halted deep sea mining activities and is reconsidering offering new permits due to environmental concerns. Additionally, the government is contemplating a temporary ban on new energy-intensive crypto mining to prioritize electricity use for community data centers, spotlighting tensions between mining industries and sustainable resource policies.
Green Minerals’ strategy reflects a longer-term vision aimed at offsetting currency debasement risks amid planned future capital expenditures on production equipment. This approach resembles that of pioneers like Michael Saylor’s MicroStrategy, which has aggressively accumulated Bitcoin as a treasury asset worth tens of billions. However, Green Minerals is balancing this financial innovation with its commitment to its foundational mining projects and evolving regulatory landscape in Norway.