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Deep Sea Mining Firm Goes Deep on Bitcoin With $1.2B BTC Treasury Plan
The Oslo-listed firm said it bought four bitcoin in its first BTC purchase.
Updated Jun 25, 2025, 2:05 p.m. Published Jun 25, 2025, 8:40 a.m.
What to know:
- Green Minerals said it plans to invest up to $1.2 billion in bitcoin as part of its financial strategy.
- The company's shares fell nearly 20% following the announcement.
- Green Minerals aims to provide transparency with a bitcoin-per-share indicator for shareholders.
Green Minerals (GEM), a Norwegian deep-sea mining firm, said Wednesday it bought four bitcoin in its first purchase following Monday's announcement of a $1.2 billion treasury strategy as it joins the ranks of companies including the largest cryptocurrency in its broader financial strategy.
The company said it paid about 4.25 million Norwegian kroner ($420,000) for the bitcoin, or about $105,000 per token.
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The Oslo-listed firm, which trades on Euronext Growth, framed the move as part of a transition into a more tech-integrated model. Executive Chairman Ståle Rodahl called bitcoin a hedge against inflation and fiat debasement, citing its “decentralized, non-inflationary properties” as key advantages over traditional reserves, in Monday's statement.
The treasury plan adds Green Minerals to a rapidly expanding list of public companies incorporating crypto into their balance sheets. Over 245 companies now hold bitcoin, up 13% in the past month alone, according to data from Bitcointreasuries. Together, they hold more than $88 billion in BTC.
The announcement triggered a sharp selloff in the company’s shares, which fell almost 20% on Tuesday. They were recently 2% lower.
The company will establish a transparent and secure framework for the acquisition, management, and reporting of bitcoin holdings, such as a bitcoin-per-share indicator that will provide shareholders with “clear insights into the digital asset value attributable to each share.”
The “core operational strategy remains steadfast,” the company said “The bitcoin treasury program will support the company’s project plans.”
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French Banking Giant BPCE to Roll Out Crypto Trading for 2M Retail Clients
The service will allow customers to buy and sell BTC, ETH, SOL, and USDC through a separate digital asset account managed by Hexarq.
What to know:
- French banking group BPCE will start offering crypto trading services to 2 million retail customers through its Banque Populaire and Caisse d’Épargne apps, with plans to expand to 12 million customers by 2026.
- The service will allow customers to buy and sell BTC, ETH, SOL, and USDC through a separate digital asset account managed by Hexarq, with a €2.99 monthly fee and 1.5% transaction commission.
- The move follows similar initiatives by other European banks, such as BBVA, Santander, and Raiffeisen Bank, which have already started offering crypto trading services to their customers.
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