Norwegian deep-sea mining company Green Minerals AS is launching a bold new financial strategy: raising up to $1.2 billion to build a bitcoin reserve as part of its long-term blockchain and innovation plans.
Green Minerals is one of the first companies in its sector to integrate bitcoin into its financial operations at this scale. The company says the decision was driven by a need to strengthen its balance sheet and protect its assets from inflation and global economic instability.
“In this era of significant monetary expansion, maintaining a strong balance sheet is more critical than ever,” says Ståle Rodahl, Executive Chairman of Green Minerals.
“Bitcoin’s decentralized, non-inflationary properties make it an attractive alternative to traditional fiat.”
At the heart of the plan is a bitcoin treasury strategy—a financial approach where companies use bitcoin as part of their reserve assets, just like cash or gold.
Green Minerals says this will support its long-term project financing needs and diversify its treasury away from traditional currencies which are increasingly seen as vulnerable to inflation and geopolitical risks.
The company will raise up to $1.2 billion together with corporate partners to fund this strategy. That money will be used to buy bitcoin which the company will hold as a long-term reserve asset.
“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,” says Rodahl.
While the bitcoin plan has gotten all the headlines, Green Minerals stresses that its core business in deep sea mining remains unchanged.
The bitcoin strategy is meant to support, not replace, the company’s main business of sustainably extracting key minerals and rare earth elements from the ocean floor.
The company will also use blockchain technology across its supply chain to increase transparency, operational efficiency, and certify mineral origin.
Green Minerals is taking steps to ensure transparency in the implementation of its new financial strategy.
A new metric called “Bitcoin per share (BTC/share)” will be introduced as a Key Performance Indicator (KPI). This will give investors a clear view of how much bitcoin value is attached to each share of the company.
The company will start buying bitcoin in the coming days but no timeline was given for when the $1.2 billion target will be reached.
Green Minerals is one of the first traditional mining companies to adopt bitcoin as a financial hedge. While tech companies like Strategy made headlines in previous years for their bitcoin investments, Green Minerals is the first mining company to do so.
This might influence other companies in the industry to look into bitcoin as part of their long-term planning.
This is big for the mining industry. By holding bitcoin, Green Minerals is not only diversifying its assets but also showing its commitment to innovation and financial resilience.
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