UK-listed mineral exploration company Panther Metals Plc (LSE: PALM) has announced a strategic shift that merges traditional mining with digital finance, revealing plans to incorporate Bitcoin into its treasury operations.
In a press release, Panther Metals disclosed its intention to purchase £4 million ($5.4 million) worth of Bitcoin as part of a new treasury strategy. Notably, the company will leverage £1.3 million ($1.75 million) of its Bitcoin holdings as collateral to finalize the acquisition of the Pick Lake mining deposit in Ontario, Canada.
Unlike other firms that passively hold Bitcoin, Panther’s approach positions the cryptocurrency as “productive capital.” The company aims to use Bitcoin to support ongoing growth in its physical commodity portfolio, which includes critical minerals, gold, and other precious metals.
CEO Darren Hazelwood emphasized the benefits of blending digital and physical assets, stating that the hybrid model allows Panther to fund high-potential mining projects with less shareholder dilution.
“In today’s inflationary environment and volatile capital markets, Bitcoin provides a unique hedge against fiat currency risk,”
he said.
The Pick Lake site is part of the larger Winston Project, which contains approximately 85% of the project’s total mineral resources. The Winston deposit is considered an advanced-stage polymetallic site with significant deposits of zinc, copper, and precious metals. Zinc, in particular, is recognized as a critical mineral essential to battery technologies and steel galvanization.
“By blending the stability of physical resources with the flexibility of digital capital, Panther is building a business that can thrive through market cycles and remain ahead of the curve,”
Hazelwood added.
Panther’s bold move into digital assets comes amid the growing institutional adoption of Bitcoin. Just days earlier, real estate investor Grant Cardone disclosed his firm’s purchase of 1,000 BTC for its corporate treasury. Meanwhile, Bitcoin-focused firms like Michael Saylor’s MicroStrategy and Japan’s Metaplanet continue to ramp up their holdings, which now stand at 592,345 BTC and 11, respectively.
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