Norway deep-sea miner to buy Bitcoin

Norwegian deep-sea mining firm Green Minerals AS has announced plans to allocate up to $1.2 billion to its Bitcoin treasury, highlighting the growing institutional appetite for digital assets.

The Bitcoin treasury strategy is part of broader ambitions to incorporate blockchain technology into the company’s operations. The company said Bitcoin will help diversify its assets from fiat currencies.

Corporations are racing to buy Bitcoin, with new entity formations scooping up billions of dollars worth of the digital asset. Earlier this month, Tether and Bitfinex moved $3.9 billion worth of Bitcoin to Twenty One Capital, a new company backed by SoftBank and Cantor Fitzgerald.

Entrepreneur Anthony Pompliano has also launched a new Bitcoin financial services firm, called ProCap BTC, which announced plans to buy up to $1 billion worth of BTC.