Green Minerals and Panther Metals have added Bitcoin to their corporate treasuries, marking a new era for both companies in the mining and minerals industry. Notably, both companies announced plans to adopt a Bitcoin treasury strategy earlier this week.
Norway deep-sea mining firm Green Minerals on Wednesday completed its first BTC purchase to kickstart its Bitcoin treasury strategy. The company purchased 4 BTC worth 4.25 million Norwegian Kroner (USD $420.3k). The company has set an ambitious target to buy Bitcoin worth $1.2 billion.
This comes as UK-based Panther Metals acquired 1 BTC worth $5.4 million on Tuesday. The company plans an initial purchase of 4 million British pounds in Bitcoin to hold in its corporate treasury as an investment hedge. Also, the company will use its Bitcoin treasury to finance the purchase of the Pick Lake deposit, a constituent of the Winston Project in Ontario, Canada.
“Panther Metals is executing on a bold and innovative strategy to position ourselves as a true hedge between traditional fiat money markets and the rapidly evolving digital currency space,” said chief executive officer of Darren Hazelwood.
Meanwhile, Green Minerals adopted Bitcoin treasury strategy as part of its overall blockchain strategy. The company sees Bitcoin treasury strategy to support its project plans related to supply chain transparency, mineral origin certification and operational efficiency.
“This strategic move reinforces Green Minerals’ position not only as a leader in sustainable mineral extraction but also as an innovator in financial and technological practices,” said Green Minerals.
Green Minerals AS stock price has jumped 11% today and over 130% since announcing Bitcoin treasury strategy. Whereas, Panther Metals PLC stock price has rallied more than 47%, as per Yahoo Finance.
BTC price is currently trading at $106,712. The 24-hour low and high are $104,740 and $106,826, respectively. However, the trading volume has decreased by 30% in the last 24 hours, indicating a decline in interest among traders.
Also Read: Metaplanet Secures 10% of $5.4B Capital to Buy Bitcoin: CEO Simon Gerovich
