Green Minerals Invests $1.2 Billion in Bitcoin, Shares Drop 20%

Green Minerals, a Norwegian deep-sea mining firm, has announced a significant shift in its financial strategy by planning to invest up to $1.2 billion in bitcoin. This move positions the company among a growing number of firms that are incorporating cryptocurrency into their treasury management. The firm's first purchase of bitcoin involved acquiring four tokens, amounting to approximately 4.25 million Norwegian kroner, or about $420,000, with each token valued at around $105,000.

The company's executive chairman, Ståle Rodahl, highlighted the strategic advantages of bitcoin, citing its decentralized and non-inflationary properties as key benefits over traditional reserves. This investment is part of a broader transition into a more tech-integrated business model, aiming to hedge against inflation and fiat debasement.

Green Minerals' decision to invest in bitcoin follows a trend among public companies that are increasingly incorporating cryptocurrency into their financial strategies. The firm's shares experienced a sharp selloff following the announcement, falling nearly 20% on Tuesday, although they later recovered slightly, showing a 2% decrease.

To ensure transparency and security, Green Minerals plans to establish a framework for the acquisition, management, and reporting of its bitcoin holdings. This includes introducing a bitcoin-per-share indicator, which will provide shareholders with clear insights into the digital asset value attributable to each share. The company emphasized that its core operational strategy remains unchanged, with the bitcoin treasury program supporting its project plans.