British Mining Company Switches to Bitcoin
Date: 2025-06-06 Author: Gabriel Deangelo Categories: BUSINESS
British mining company Bluebird Mining Ventures has announced its intention to transfer revenue from its gold mining operations into Bitcoin, viewing it as a strategic asset. According to management, this decision is aimed at creating a new standard for the industry: turning physical gold into “digital”. The announcement caused a strong market reaction, with Bluebird shares rising by almost 60%.
The company manages assets in South Korea and the Philippines, with proven reserves of 1.8 million ounces of gold. Its securities are traded on the London Stock Exchange under the ticker BMV.
The new strategy involves storing Bitcoin on the company’s balance sheet. Bluebird is convinced that this approach will help protect the value of revenue from inflation, reduce costs and attract the attention of crypto-oriented investors. The company emphasizes that minimal administrative costs combined with mining revenues will ensure a sustainable business model.
Bluebird is particularly focused on developing the project in the Philippines, having received an extension of the permit for its implementation. Active negotiations with local partners are underway, and an agreement is expected in the coming weeks.
The company is also looking for a new CEO with experience in the digital asset sector to implement an ambitious crypto strategy. Several candidates are currently being considered.
Interim CEO Aidan Bishop noted that the combination of gold and bitcoin opens up new opportunities for the company: “This move will allow us to reach a new level and attract investors focused on the future.”
Despite the recent rise in the stock, its value remains significantly below the all-time peak reached in 2020 - about 92% below the maximum, according to TradingView data.
Such a practice has already proven itself in the world of public companies. For example, Strategy, led by Michael Saylor, began investing in Bitcoin back in 2020. During this time, its shares have grown by 2,850%. Strategy now controls about 2.7% of all Bitcoin on the market, valued at $64 billion. The company plans to invest an additional $86 billion in cryptocurrency by 2027.
