Bluebird Mining Ventures Ltd, a UK gold mining firm, has announced funding for Bitcoin purchases amidst a new gold agreement.
Funding for Bitcoin Purchase
On June 25, Bluebird Mining Ventures Ltd, listed in London, secured £2 million in funding, with £1 million available immediately to implement its Bitcoin Treasury strategy. The funding is structured as a zero-interest loan, maturing on December 31, 2026, with an option for the lender to convert the debt into shares at 2 pence per share.
Gold Agreement in the Philippines
The funding coincides with Bluebird's announcement on June 24 regarding a gold project agreement in the Philippines. Under the deal, the company will receive a 10% profit share and bonus royalty payments. This aligns with the company's strategy to convert future gold revenues into Bitcoin.
Company's New Strategy
As announced on June 5, the company plans to combine income streams from its gold mining projects and recycle those revenues into a proactive Bitcoin-in-Treasury management approach, while maintaining minimal corporate overhead.
Thus, Bluebird Mining Ventures is significantly shifting its strategy by combining gold mining operations with investments in digital assets through Bitcoin.
