Norwegian Green Minerals invest up to $1.2 billion to establish the Bitcoin Treasury Department as they are “with partners.”
In a statement, Green Mineral, which mines deep-sea minerals, said it aims to acquire their first Bitcoin in the “next few days” in pursuit of a broader strategy to invest more in blockchain integration.
“The decentralized, non-expandable nature of Bitcoin has become an attractive alternative to traditional Fiat,” said Sto Rodard, executive chairman of Green Minerals, in a statement. “By integrating Bitcoin’s financial strategy, we not only mitigate the risks of Fiat, but we are reaffirming our commitment to financial innovation and sustainable creation of long-term value.”
The announcement comes as a rapidly growing list of public companies, heading from a previous focus to accumulation of Bitcoin. However, Green Minerals said its “core operational strategy remains unshakable” and that its Bitcoin finance program will support “the company’s project plan.”
Green Minerals also said that blockchain “plays an important role in mining to ensure supply chain transparency, mineral origin certification and operational efficiency.”
Decryption I contacted Green Mineral for additional comments but did not receive a response immediately.
According to data from bitcointreasuries.com, approximately 245 public companies hold digital assets on their balance sheets, an increase of around 13% over the past month. In total, companies hold more than $88 billion in Bitcoin total, the same data shows.
Michael Saylor’s strategy, formerly MicroStrategy, pioneered the model. Since then, Saylor’s company has snapped over 592,300 Bitcoin worth more than $62 billion in Bitcoin.
Meanwhile, other publicly traded companies, such as Upexi, Wellgistics Health and Defi Development Corp., have replicated their strategy playbooks with Altcoins, including XRP and Solana.
Rodard said the green mineral strategy is “suitable for companies with such a long project horizon.”
“The programme provides a robust hedge against the currency collapse as there is a plan to significantly future capital expenditures on production equipment,” he said.
Green mineral stocks plummeted nearly 35% on Tuesday. Last year, Norway ordered a halt to deep sea mining. The government, which had planned to provide deep-sea mining permits in 2025, reportedly had reconsidered the possibility.
Last week, the country’s labor government said in a statement that it would investigate a temporary ban on new electricity-intensive crypto mining operations. The forces used to mining digital assets are better suited for use, including community data centers, according to the statement.
Edited by James Rubin
