- Panther Metals PLC is an exploration company listed on the main market of the London Stock Exchange.
- Panther Metals Plc announced a $5.4 million Bitcoin purchase to bolster its treasury.
- The purchase will mark a strategic shift to fund mining operations by combining traditional assets with digital currency.
- The company will use $1.75 million of its Bitcoin holdings as collateral to acquire the Pick Lake mining deposit in Ontario, Canada.
- Following the announcement, Panther’s stock surged 21% on the London Stock Exchange.
The United Kingdom listed mineral exploration company, Panther Metals Plc, revealed plans to buy approximately $5.4 million worth of Bitcoin to hold in its treasury.
This move, which marks a shift in how the company plans to fund future projects, combines traditional mining assets with digital currency.
Panther Metals will use £1.3 million, equivalent to $1.75 million, of its Bitcoin holdings as collateral to complete its purchase of the Pick Lake mining deposit in Ontario, Canada.
Panther Metals said in a statement that this allows them to secure the asset while still maintaining full exposure to Bitcoin.
“This approach treats Bitcoin as productive capital, not just a passive asset,” the statement read.
The company plans to continue growing its physical inventory of critical minerals, gold, and other metals, backed by its expanding Bitcoin reserves.
CEO Darren Hazelwood explained the hybrid approach enables the company to tap into better financing terms from the digital asset space, helping fund high-quality projects without significantly diluting shareholder value.
“In today’s inflationary environment and volatile markets, Bitcoin provides a unique hedge against fiat currency risk,” Hazelwood said in the same statement.
Hazelwood added that the company’s blend of physical resource stability and the flexibility of digital capital will help Panther remain resilient through market ups and downs.
Panther’s announcement comes as more companies begin adding Bitcoin to their balance sheets. Earlier this week, Strategy, led by Michael Saylor, acquired an additional 245 Bitcoin (BTC). Meanwhile, Japanese investment firm Metaplanet further expanded its holdings by acquiring an additional $1.18 million worth of Bitcoin.
Almost immediately after the Bitcoin acquisition announcement, Panther stock (PALM) surged 21% on the London Stock Exchange on Monday.