Norwegian deep-sea mining company Green Minerals AS said it is working with unnamed partners to raise as much as $1.2 billion to build a dedicated Bitcoin treasury. The Oslo-listed firm aims to make its first purchases of the cryptocurrency within days and will introduce a “Bitcoin per share” metric to track the holdings, it said in a statement released this week. Executive Chairman Ståle Rodahl called Bitcoin a “decentralized, non-inflationary” asset that can hedge the company’s long-dated capital-expenditure plans and support its broader push to apply blockchain for supply-chain transparency and mineral-origin certification. Green Minerals stressed that its core focus on subsea mineral projects remains unchanged. Investors reacted sharply; the stock fell almost 35 percent on Tuesday on Euronext Growth Oslo. The move places Green Minerals among about 245 public companies that collectively own roughly $88 billion in Bitcoin, according to industry data, following the strategy pioneered by Michael Saylor’s firm Strategy (formerly MicroStrategy). The announcement comes amid heightened scrutiny of both deep-sea mining and energy-intensive crypto activities in Norway. The government last week said it would study a temporary halt on new power-hungry digital-asset mines, and it has already paused plans to issue deep-sea mining permits.