Mar 25, 08:27 PM

Nilam Resources to Buy 24,800 Bitcoins for $1.76 Billion

Nilam Resources, a South American gold and precious metals producer, has announced its intention to acquire 24,800 Bitcoins, valued at approximately $1.76 billion, at a discounted rate relative to current market prices. The acquisition will be facilitated through the issuance of a newly authorized Preferred Class of Series C Stock. This strategic move involves a letter of intent with Xyberdata Ltd to acquire 100% of the common stock of a special purpose entity named MindWave, which will hold the Bitcoins. This marks Nilam Resources as the first public gold miner to announce such a significant purchase of Bitcoin, highlighting a notable shift in the investment strategy of traditional mining companies towards digital assets.

#Nilam Resources #South American #Bitcoins #Xyberdata Ltd #MindWave #Bitcoin

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