Norway deep-sea mining firm plans $1.2B Bitcoin buy

Green Minerals says it will raise $1.2 billion to buy Bitcoin and plans to adopt blockchain technology in areas such as supply chain transparency and operational efficiency.

Norwegian deep-sea mining firm Green Minerals AS says it plans to create a Bitcoin treasury and is aiming to raise $1.2 billion to buy and hold Bitcoin long-term.

Green Minerals said on Monday that the plan is part of a wider blockchain strategy that aims to diversify the company’s investments from fiat currencies and support its future project plans.

Green Minerals executive chair Ståle Rodahl said in a statement that Bitcoin (BTC) is an “attractive alternative to traditional fiat,” and the hope is that adding it to the firm’s balance sheets will help by “mitigating fiat risks.”

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