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Tech

Norway deep-sea mining firm plans $1.2B Bitcoin buy

Roman Hasley
Last updated: 25.06.2025 8:19 AM
Roman Hasley
Published: 25.06.2025
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Norway deep-sea mining firm plans $1.2B Bitcoin buy

Green Minerals Plans $1.2B Bitcoin Purchase to Build Digital Treasury

Norwegian deep-sea mining firm Green Minerals AS announced plans Monday to establish a Bitcoin treasury, aiming to raise $1.2 billion to acquire and hold the cryptocurrency long-term.

This initiative forms part of a broader blockchain strategy designed to diversify the company’s investment portfolio beyond fiat currencies and support future project funding.

“With significant future capital expenditures planned for the production equipment, the program offers a robust hedge against currency debasement.”
– Ståle Rodahl, Green Minerals Executive Chair
Executive Chair Ståle Rodahl stated Bitcoin presents an “attractive alternative to traditional fiat” and aims to mitigate such risks “by hedging against currency debasement.”

Funds will be raised through dedicated financial programs specifically targeting the expansion of the Bitcoin treasury. The company anticipates executing its first major Bitcoin purchase within the coming days.

Initial Acquisition Targets

With Bitcoin currently trading near $106,500, Green Minerals’ target $1.2 billion allocation would allow the firm to acquire approximately 11,255 BTC.

Asset Investment Target Purpose
Bitcoin $1.2B Digital treasury diversification
fiat currencies Unspecified Balance sheet support

Broader Blockchain Integration

Green Minerals also outlined ambitious plans to integrate blockchain technology, citing competitive advantage and readiness for future digital regulatory frameworks.

Specifically, the company noted, “Blockchain technology has an important role to play in mining to ensure supply chain transparency, mineral origin certification, and operational efficiency.”

Market Reaction Mixed

Following the initial positive announcement Monday, the company’s stock price surged 300%, closing at 68 European cents. However, secondary trading Tuesday saw the price decline over 34% to close at 44 European cents.

Variable Corporate Responses

While Green Minerals saw its stock initially rise on the Bitcoin plan, the outcome differs from similar moves by other firms:

  • DigiAsia Corp: Indonesian fintech firm saw shares nearly double (+91%) after announcing $100 million Bitcoin investment plans.
  • K33: Norwegian crypto brokerage saw a flat share price (-1.96%) despite announcing a Bitcoin purchase intention.

Related Story: Metaplanet Shares Jump After $5.4B Bitcoin Purchase Plan

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