Green Minerals Buys 4 BTC at $105,000 Each for $1.2 Billion Treasury

Green Minerals, a deep-sea mining firm, has made a significant move by purchasing 4 BTC on Wednesday. This acquisition is part of the company's broader strategy, announced on Monday, to build a $1.2 billion Bitcoin treasury. The 4 BTC were bought at a price of $105,000 per token, totaling $420,000, which is equivalent to 4.25 million Norwegian Kroner. Green Minerals, listed on the Oslo exchange, aims to adopt a tech-centric business operations model. Stale Rodahl, the executive chairman of Green Minerals, highlighted that Bitcoin serves as a hedge against inflation and offers the advantage of being decentralized. Rodahl believes that Bitcoin addresses the issue of fiat debasement and can sustain the company through uncertain economic times.

Earlier this week, Green Minerals announced its adoption of a Bitcoin treasury strategy to complement its sustainable mining business. The company explicitly stated that investing in Bitcoin helps offset the risks associated with fiat currencies, which are subject to inflation and geopolitical risks. Green Minerals also plans to integrate blockchain technologies to modernize its operations. Rodahl emphasized the importance of maintaining a strong balance sheet during economic disruptions. The company intends to finance up to $1.2 billion through its Bitcoin treasury strategy while continuing its regular operations and integrating blockchain technology into its business model. Rodahl noted that Bitcoin can enhance transparency and trace supply chain networks. Green Minerals is committed to its capital expenditure goals and uses blockchain to digitize its treasury. The company will use a BTC/share metric to allow shareholders to track the strength of its Bitcoin treasury. This strategy aims to establish Green Minerals as a leader in financial innovations and technological business models, building on its existing leadership in sustainable underwater mining operations.

The adoption of treasury strategies has increased by 13% from last month, driven by growing interest in holding crypto on the balance sheet. Green Minerals is one of over 245 companies that now hold Bitcoin on their balance sheets, collectively adding substantive value to the BTC token. The corporate world is discovering new uses for crypto, which the blockchain community has not yet thoroughly analyzed. Green Minerals' stock price dropped by 20% on Tuesday following the initial announcement. The company plans to use transparent methods for acquiring Bitcoin and will update shareholders with any changes to the balance sheet. Rodahl assured investors that the Bitcoin strategy will support regular business operations, enhance technological efficiency, and promote a future-oriented business model.

Green Minerals aims to acquire its target of $1.2 billion worth of Bitcoin by collaborating with partners to devise programs for financing the acquisition. The company has already acquired its first 4 BTC as part of this plan, initiating the process immediately. At the current Bitcoin price of $106,500, the company could reach its target of $1.2 billion by purchasing 11,255 BTC. Green Minerals also intends to integrate blockchain innovations into its business model to remain competitive in the underwater sustainable mining industry and prepare for any regulatory changes. The company believes that blockchain technology can be applied to supply chain verification and mineral origin certification in the mining industry.

Norway, where Green Minerals is based, announced last week that it will temporarily ban Bitcoin mining centers to prioritize energy levels and meet environmental targets. The Labour government in Norway is concerned that Bitcoin mining, which requires maximum computation efficiency, could disrupt their key targets of reducing pollution levels. The Labour Party has stated that it values blockchain and AI technology but wants to prioritize energy supply for other industries to enjoy government subsidies. Green Minerals may be accumulating a Bitcoin treasury to navigate regulatory uncertainty amidst an evolving public sector.