Norwegian deep-sea mining firm Green Minerals AS plans to create a Bitcoin treasury by raising $1.2 billion to buy and hold Bitcoin long-term. This strategy aims to diversify investments away from fiat currencies and support future projects. Ståle Rodahl, executive chair of Green Minerals, described Bitcoin as an attractive alternative to traditional fiat, which can mitigate currency risks amidst significant planned capital expenditures for production equipment. Green Minerals expects to purchase its first Bitcoin in the coming days, estimating it could acquire approximately 11,255 Bitcoin at the current trading price of around $106,500. Additionally, the firm plans to adopt blockchain technology to enhance supply chain transparency and operational efficiency. Following the announcement, Green Minerals' stock saw a 300% gain initially, but it later dropped by over 34% in the subsequent trading session. The broader trend among companies announcing Bitcoin purchases has shown varied stock market responses, with some experiencing significant increases while others remained flat or declined.

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