Panther Metals adopts Bitcoin as strategic asset, stock surges

UK-based exploration firm Panther Metals Plc has announced a Bitcoin treasury strategy combining traditional mining assets with Bitcoin holdings, sending its stock (PALM) up 21% on Monday. The company plans to buy £4 million ($5.4 million) worth of Bitcoin and will use $1.75 million in BTC as collateral to complete its acquisition of the Pick Lake mining deposit in Canada. CEO Darren Hazelwood said Bitcoin provides a unique hedge against fiat risk and allows the company to fund projects without diluting shareholders.