To Address Inflation, Norwegian Mining Company Plans Bitcoin Reserves
Green Minerals, a mineral mining company from Norway, has announced an ambitious plan to form Bitcoin (BTC) reserves as part of its blockchain technology integration strategy.
Together with its strategic partners, the company will allocate up to $1.2 billion to build a Bitcoin treasury. Green Minerals' Chief Executive Ståle Rodahl explained that Bitcoin was chosen because of its decentralized nature and resistance to inflation, making it an attractive alternative to conventional currencies.
According to him, this strategy serves not only as protection against fiat depreciation but also as a tangible step towards sustainable financial innovation.
Rodahl added that this strategy is highly suitable for companies with long-term project projections, especially as they face significant future capital expenditure needs.
He also emphasized that blockchain technology plays an important role in enhancing supply chain transparency, mineral origin certification, and operational efficiency in mining.
However, unfortunately, the market responded negatively. Green Minerals' shares plummeted nearly 35% on Tuesday (24/06) local time following the announcement, exacerbated by uncertainty over deep-sea mining policies in Norway and the potential for new bans on energy-intensive crypto mining activities.
*Disclaimer Alert. Not Financial Advice (NFA). Do Your Own Research (DYOR).*