From Gold to Bitcoin: Bluebird Tries Something New
Bluebird Mining, a UK-listed gold exploration company, is stepping into the world of Bitcoin, but in a way that’s a little different. Instead of setting up a Bitcoin mine or managing expensive hardware, the company is using a streaming model to gain exposure to BTC, according to Crypto News.
This means Bluebird won’t be mining Bitcoin directly. Instead, they’ve bought 756 ASIC mining machines, a mix of Bitmain and Canaan rigs, with a combined hashrate of 63.7 PH/s. These machines will be resold to partners, and in return, Bluebird will receive a share of the Bitcoin that those machines generate over the next three years.
What’s a Streaming Deal?
Streaming is a model that’s often used in the gold industry, where a company funds part of a mine in exchange for a portion of future production. Now, Bluebird is bringing that idea into the crypto world.
Instead of running mining operations themselves, they pass that job to another party, no electricity costs, no technical issues, no staff to manage. But they still benefit. Bluebird expects to earn over 30 BTC through this deal without needing to handle the day-to-day operations.
It’s a smart move for a company that wants Bitcoin exposure without taking on too much risk or draining resources.
Why This Move Matters
Bluebird is calling this a small but important step in its broader plan. It shows the company is serious about adapting its treasury strategy for the future.
So far, the company has focused on gold and silver projects in South Korea and the Philippines, with gold resources estimated at around 1.8 million ounces. But now, with Bitcoin becoming a more accepted asset globally, and trading above $122,000, Bluebird is using this moment to diversify its portfolio.
The company is also setting aside £1 million ($1.3 million) from a previous loan to buy Bitcoin directly, showing even more confidence in the future of digital assets.
Old World Meets New: Gold and Bitcoin Side by Side
What makes Bluebird’s plan unique is how it blends traditional mining with modern finance. Just like in its Philippine gold project, where the company earns a 10% profit share plus bonuses tied to gold prices, Bluebird is applying smart, structured deals to Bitcoin.
Chairman Sath Ganesarajah said the goal is to create long-term value by building what he calls “asymmetric exposure”, a fancy way of saying they’re investing small amounts now with hopes of big gains later.
What’s Next for Bluebird?
The company plans to share more updates soon, including a new CEO and further crypto activity. With both gold and Bitcoin in its toolbox, Bluebird is aiming to appeal to a new kind of investor, one who believes in hard assets, whether they come from the ground or the blockchain.
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