Hamak Gold Adopts Bitcoin Treasury Policy After £2.47M Fundraise: London Mining Firm Bets Big on Digital Assets as UK Trend Accelerates
Hamak Gold Limited, a London-listed mining company, just made a bold move. After raising £2.47 million through discounted shares, the company confirmed it will adopt a Bitcoin treasury policy. This comes at a time when several UK firms are also turning to digital assets for diversification. The announcement sent Hamak’s share price rising by 6%. With Bitcoin treasury policy gaining popularity, are we seeing a turning point for how mining companies manage their finances?
In This Article:
Hamak Raises £2.47 Million and Issues New Shares at Discount
To secure financing for its new strategy, Hamak Gold Limited placed and subscribed shares at 0.8 pence each—a 27% discount from the recent close. Investors received 308.4 million new shares, representing over two-thirds of the company's total shares now. This major fundraise was crucial in enabling Hamak to implement its Bitcoin treasury policy, showing how financial innovation can emerge from structural change.
Board Shakeup and Regulatory Hurdles Accompanied the Bitcoin Shift
Adopting a Bitcoin treasury policy wasn’t simple for Hamak. Regulatory listing rules meant new shares were temporarily given to directors, who then sold them to investors at the same discount. Significant leadership changes followed, with the executive chairman and a director stepping down. The new directors now lead this push, reflecting the firm’s changing priorities.
Major Support from Middle Eastern Investors and Warrant Incentives for Shareholders
Hamak’s move to a Bitcoin treasury policy found support from institutional backers. MBS Global Investments, linked to the Qatari royal family, invested £100,000 in the latest share placing. Existing shareholders also received warrants tied to the new shares, aimed at keeping everyone invested in Hamak's ambitious future plans.
More UK Mining Firms Are Turning to Bitcoin Amid Losses and Market Volatility
The Bitcoin treasury trend is quickly catching on. Panther Metals, Bluebird Mining Ventures, Vinanz, and Smarter Web Company have all started accumulating Bitcoin to offset financial losses and secure future growth. Their bold strategies mirror Hamak’s, highlighting a major shift in the UK mining sector as companies seek stability through digital assets. The rise of the Bitcoin treasury policy signals a new era for corporate finance.
