Norwegian deep-sea mining firm Green Minerals AS (GEM.OL) announced plans to invest up to $1.2 billion into building a Bitcoin treasury, sparking a 17.54% surge in its share price.
The Euronext Growth Oslo-listed company revealed Tuesday that it, alongside its partners, intends to acquire its first Bitcoin in the coming days.
The bold move marks a strategic pivot toward digital assets, aligning Green Minerals with a growing trend among public companies seeking exposure to Bitcoin as a long-term financial asset.
The announcement has drawn both market enthusiasm and scrutiny as investors assess the implications for the company’s traditional operations.
Strategic Shift Embraces Bitcoin’s Financial and Technological Potential
In its official statement, Green Minerals highlighted Bitcoin’s decentralized and non-inflationary nature as key motivators behind the move.
Executive Chairman Ståle Rodahl emphasized that the Bitcoin treasury program is intended to mitigate the risks associated with fiat currencies while positioning the company at the forefront of financial innovation.
“By integrating a Bitcoin treasury strategy, we are not only mitigating fiat risks but also reaffirming our commitment to financial innovation and the sustainable creation of long-term value,” Rodahl said.
Despite this pivot, the company asserted that its primary operational strategy, which centers around deep-sea mineral extraction, remains unchanged.
The treasury initiative is intended to complement, rather than replace, its ongoing industrial activities.
Also Read: UK-Listed Panther Metals Sees 51% Share Price Surge After Announcing $5.3M Bitcoin Reserve Strategy
Blockchain’s Role in Green Minerals’ Broader Vision
Beyond merely acquiring Bitcoin as a reserve asset, Green Minerals sees blockchain technology as essential to the future of sustainable and transparent mining practices.
The company noted that blockchain has significant potential to improve supply chain transparency, verify mineral origin, and enhance operational efficiency.
The dual-use approach, treating blockchain both as a financial tool and as an industrial utility, highlights Green Minerals’ ambition to merge traditional resource extraction with cutting-edge digital infrastructure.
Also Read: Circle Shares Soar 50% Closing At $199 Yesterday Amid GENIUS Stablecoin Bill Passing
Public Companies Increasingly Turn to Bitcoin Treasuries
Green Minerals joins a growing cohort of publicly traded firms adopting Bitcoin as part of their corporate treasury strategies.
Data from bitcointreasuries.com indicates that 245 public companies now hold Bitcoin, a 13% increase in the past month alone, collectively owning more than $88 billion worth of the asset.
Michael Saylor’s firm Strategy (formerly MicroStrategy) remains the leader, holding over 592,300 BTC valued at more than $62 billion.
While some firms have diversified into altcoins like XRP and Solana, Green Minerals appears to be following the Bitcoin-centric approach.
The development suggests a desire to adopt a more conservative and institutionally accepted path within the crypto ecosystem.
Regulatory Pressures and Market Volatility Add Complexity
While investors responded positively to Green Minerals’ Bitcoin strategy, sending the stock up 17%, the company still faces significant challenges.
Its share price had recently fallen by nearly 35%, and regulatory uncertainty in Norway poses a risk to both its traditional and digital plans.
The Norwegian government had paused deep-sea mining initiatives and is currently evaluating a temporary ban on new power-intensive crypto mining operations.
Authorities argue that electricity consumed by digital asset mining could be better allocated to community-serving infrastructure.
These developments underscore the complex balancing act Green Minerals must navigate, embracing financial innovation while remaining compliant with evolving environmental and energy policies at home.
Also Read: Swedish Health Company H100 Group Share Soar by 45% Following $10M Funding For Bitcoin Investment