Green Minerals (GEM), a leading player in the niche of deep-sea mining, is making waves—not just in the oceanic depths, but in the cryptocurrency realm. The Oslo-listed company announced a bold move on Monday to integrate a $1.2 billion bitcoin treasury strategy into its financial playbook. This initiative marks its entrance into the growing league of public companies diversifying their reserves with the king of cryptocurrencies.
A Strategic Shift
This strategic pivot was underscored by GEM’s purchase of four bitcoins, each at approximately $105,000, totaling around $420,000. In the words of Executive Chairman Ståle Rodahl, this decision is no mere dalliance with digital currency. Rodahl emphasized bitcoin’s role as a hedge against inflation and fiat currency debasement, thanks to its decentralized and limited supply. This, he argued, positions bitcoin as a superior alternative to traditional reserves. This follows a pattern of institutional adoption, which we detailed in our analysis of corporate treasury investments.
GEM’s maneuver is a part of a larger trend, with more than 245 companies now holding bitcoin, a 13% increase in just the past month according to Bitcointreasuries. These companies collectively own over $88 billion in BTC, signaling a growing confidence in crypto assets as a viable financial strategy.
Market Reactions and Investor Sentiment
However, the market’s initial response to GEM’s announcement wasn’t all cheers. The company’s shares took a nosedive, plummeting nearly 20% on Tuesday, with a further 2% dip thereafter. It’s a stark reminder of the volatility and skepticism that still surrounds corporate ventures into cryptocurrency. As explored in Why Are So Many Public Companies Pivoting to Crypto, And What Happens If Bitcoin Crashes?, the potential risks and rewards of such strategies are a topic of ongoing debate.
“Investors are cautious,” noted Lena Thomassen, a financial analyst based in Oslo. “While the inclusion of bitcoin may offer long-term benefits, the immediate impact on share prices reflects concerns over market stability and regulatory uncertainties.”
Despite the market jitters, GEM remains undeterred. The company is committed to creating a transparent framework for managing its bitcoin holdings, including the introduction of a bitcoin-per-share indicator. This move is aimed at providing shareholders with a clearer picture of the digital asset’s value per share.
The Bigger Picture: Tech Integration and Future Plans
Green Minerals’ foray into bitcoin isn’t just about diversifying reserves; it seems to be part of a broader vision to weave technology deeper into its operational fabric. The firm has framed its cryptocurrency strategy as an alignment with a tech-integrated model, which could potentially open new avenues for innovation within the mining sector.
“Incorporating bitcoin isn’t just about finance; it’s about positioning ourselves at the forefront of technological adaptation in our industry,” Rodahl elaborated in a recent interview. This approach may not only bolster financial resilience but also enhance operational agility as GEM navigates the challenges of deep-sea mining.
The company has assured stakeholders that its core operational strategies remain steadfast. The bitcoin treasury program is designed to support ongoing project plans, suggesting that GEM is not abandoning its primary focus but rather enhancing it with a modern twist.
Looking Ahead
As Green Minerals sails into uncharted waters with its bitcoin treasury strategy, questions linger about the sustainability and impact of such moves. Will other companies follow suit, and can bitcoin truly stabilize as a reliable reserve asset amid its notorious volatility?
For now, GEM is charting its course with confidence, blending the old world of mining with the new frontier of digital finance. It’s a bold experiment, one that could set a precedent for how traditional industries adapt to the digital economy. As the dust settles on this announcement, the eyes of the market will be keenly watching GEM’s next steps. The outcome could very well reshape how corporate treasuries are viewed in this era of financial innovation.
Source
This article is based on: Deep Sea Mining Firm Goes Deep on Bitcoin With $1.2B BTC Treasury Plan
Further Reading
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- KindlyMD Raises Another $51.5M for Bitcoin Treasury Strategy
Steve Gregory is a lawyer in the United States who specializes in licensing for cryptocurrency companies and products. Steve began his career as an attorney in 2015 but made the switch to working in cryptocurrency full time shortly after joining the original team at Gemini Trust Company, an early cryptocurrency exchange based in New York City. Steve then joined CEX.io and was able to launch their regulated US-based cryptocurrency. Steve then went on to become the CEO at currency.com when he ran for four years and was able to lead currency.com to being fully acquired in 2025.
