Bluebird Mining Ventures Ltd., a London-listed gold exploration company operating across Asia, announced a groundbreaking move to adopt Bitcoin (BTC) as part of its treasury management strategy. The company will convert revenue generated from gold mining projects into Bitcoin, merging a traditional store of value—gold—with a digital asset to enhance capital preservation and growth prospects.
The June 5 announcement, originally posted on X (formerly Twitter), marks a significant shift from conventional capital allocation strategies typical within the UK mining sector. Bluebird aims to maintain lean corporate overheads and is actively seeking a new CEO with digital asset expertise to further support this transition.
Interim CEO Aidan Bishop highlighted Bitcoin's transformative potential amid global financial shifts, emphasizing the advantage of combining physical and digital stores of value. Following the announcement, Bluebird's shares jumped approximately 60%, reflecting heightened investor enthusiasm.
The move follows trends observed globally where companies increasingly hold Bitcoin in their treasuries, driven by concerns over inflation, elevated debt levels, and geopolitical uncertainties. Bluebird views Bitcoin as ‘digital gold,’ potentially superior to physical gold due to its limited supply and digital nature.
Bluebird's strategy may influence other UK mining firms, signaling potential sector-wide adoption of digital assets as a treasury reserve. With no immediate detailed financial disclosures available, the company nonetheless positions itself as an innovator with prospective appeal to a new class of shareholders embracing cryptocurrency.