Green Minerals AS, a Norwegian deep-sea mining company, has announced its intention to establish a Bitcoin treasury, aiming to raise $1.2 billion for long-term Bitcoin acquisition. This initiative is part of a broader blockchain strategy designed to diversify investments away from fiat currencies and support future projects. Executive chair Ståle Rodahl emphasized that Bitcoin serves as an appealing alternative to traditional fiat, potentially reducing fiat-related risks. The company plans to finance its Bitcoin treasury through partnerships and aims to purchase its first Bitcoin shortly. With Bitcoin trading around $106,500, this funding could allow Green Minerals to acquire approximately 11,255 Bitcoin. Additionally, the firm will introduce a performance indicator to track Bitcoin's value per share. Green Minerals also intends to leverage blockchain technology to enhance supply chain transparency and operational efficiency. Following the announcement, the company's shares surged by 300% but later fell over 34% the next day, reflecting the volatile nature of the market. Read more AI-generated news on: https://app.chaingpt.org/news

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