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BTC Treasury News: Deep Sea Mining Firm Goes Deep on Bitcoin With $1.2B Treasury Plan
15 Articles
15 Articles
Deep-sea miner Green Minerals down 92%, wants to buy $1.2B bitcoin
Moments before Oslo-based deep-sea mining company Green Minerals announced its intention to buy $1.2 billion worth of bitcoin (BTC), its market capitalization was less than $6 million. On the news that it wanted to join the ranks of bitcoin treasury companies like MicroStrategy (MSTR), its stock price quadrupled. Two days since that euphoria, it’s now crashed 58% from that high. Since it went public in March 2021, the company’s shares have colla…
Norwegian Deep Sea Mining Firm Green Minerals Launches $1.2B Bitcoin Treasury Strategy
Quick take: Shares of the Norway-listed company spiked more than 350% after the announcement on Monday, but have since pulled back nearly 50%. The company said it will introduce a new KPI BTC/share to provide shareholders with clear insights into the digital asset value attributable to each share.. Green Minerals’ executive chairman Ståle Rodahl, sees Bitcoin as a hedging instrument against inflation and fiat debasement. Green Minerals, a deep-…
Deep Sea Mining Company Buys First 4 BTC for its $1.2 Billion Bitcoin Treasury Strategy
Green Minerals (GEM), a deep-sea mining firm, has bought 4 BTC on Wednesday as part of its strategy, announced on Monday, to acquire a $1.2 billion Bitcoin treasury. Green Minerals is joining many crypto companies building treasury strategies to convert various finance methodologies into cryptocurrencies as a store of value. The 4 BTC purchased for $420,000 at $105,000 per token, which amounts to 4.25 million Norwegian Kroner. Green Minerals is …
Green Minerals relies on bitcoin as a hedge against inflation. Investments of up to 1.2 billion US dollars are planned. Source: BTC-ECHO BTC-ECHO
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