Bluebird Mining (LSE:BMV), a UK-listed gold explorer, is making significant strides in its dual-asset strategy, today announcing the acquisition of 756 ASIC mining rigs. This move marks a bold expansion of its Bitcoin ambitions through a pioneering streaming arrangement, aiming to generate over 30 BTC over a three-year period.
The company confirmed the deal for a mix of Bitmain and Canaan machines, boasting a combined hashrate of 63.7 PH/s. Crucially, these units will be re-sold under a “streaming Bitcoin” model – a strategy common in the gold sector but a novel application in digital assets. This allows Bluebird to gain direct exposure to Bitcoin production without incurring operational risks or bloating its balance sheet, and with no further costs once the streaming deal is executed.
This innovative approach mirrors Bluebird’s recently secured Philippine gold project, where it gains a 10% perpetual profit share and $250,000 milestone bonuses for every 5,000 ounces of gold sold above $3,000 per ounce. Both initiatives are core to Bluebird’s broader treasury strategy: building long-term, asymmetric exposure to both physical gold and “digital gold” (Bitcoin) through structured streams and direct holdings.
Non-executive chairman Sath Ganesarajah highlighted this as “a small but symbolic step in our roadmap,” emphasizing the strategy’s alignment with delivering strong capital returns. He also confirmed that £1 million ($1.3 million) from a recent loan facility will be allocated to further Bitcoin purchases, alongside the appointment of a new CEO.
This follows Bluebird’s earlier June announcement to convert future mining revenues into Bitcoin and hold it as a long-term reserve asset. The firm, which develops gold and silver assets in South Korea and the Philippines (with an estimated 1.8 million ounces of gold resources), believes this strategic pivot will attract a new class of shareholders and signals growing confidence in decentralized finance.
With the crypto market now valued at over $3.8 trillion and #Bitcoin topping $122,000, Bluebird Mining’s foresight in blending traditional mining with new-age crypto plays appears remarkably prescient. The company is actively positioning itself at the forefront of this industry shift.
July 2025, Cryptoniteuae
