Recently, Green Minerals and Panther Metals announced their implementation of a Bitcoin treasury strategy, making initial cryptocurrency purchases for their corporate needs.
Initial Bitcoin Purchases
Green Minerals completed its first Bitcoin purchase, acquiring 4 BTC worth 4.25 million Norwegian Kroner (approximately $420.3k). The company plans to invest in Bitcoin for a total of $1.2 billion.
Panther Metals Strategy
Meanwhile, Panther Metals acquired 1 BTC valued at £5.4 million. The company plans an initial investment of £4 million in Bitcoin for its corporate treasury. This will be utilized to finance the acquisition of the Pick Lake deposit as part of the Winston Project in Canada. Panther Metals CEO Darren Hazelwood stated, "Panther Metals is executing on a bold and innovative strategy to position ourselves as a true hedge between traditional fiat money markets and the rapidly evolving digital currency space."
Market Reactions and Current BTC Metrics
Following the announcement of the Bitcoin treasury strategy, Green Minerals' stock jumped by 11%, increasing over 130% since the announcement. Panther Metals' stock rose by more than 47%. The current price of Bitcoin stands at $106,712, with a 24-hour low and high of $104,740 and $106,826, respectively. However, the trading volume has decreased by 30% in the last 24 hours.
The incorporation of Bitcoin into the corporate strategies of Green Minerals and Panther Metals could signify changes in investment approaches and asset management within the mining industry.
