{"id":196737,"date":"2021-03-08T14:24:00","date_gmt":"2021-03-08T11:24:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/norwegian-investment-firm-allocates-58m-to-bitcoin-and-crypto-ventures\/"},"modified":"2021-03-08T14:24:00","modified_gmt":"2021-03-08T11:24:00","slug":"norwegian-investment-firm-allocates-58m-to-bitcoin-and-crypto-ventures","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/norwegian-investment-firm-allocates-58m-to-bitcoin-and-crypto-ventures\/","title":{"rendered":"# Norwegian investment firm allocates $58M to Bitcoin and crypto ventures"},"content":{"rendered":"

“# Norwegian investment firm allocates $58M to Bitcoin and crypto ventures <\/strong>”
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Aker ASA, a $6 billion Oslo B\u00f8rs-listed holding company is set to begin investing in Bitcoin. According to a press release<\/a> issued on Monday, Aker has created a new company called Seetee AS whose mission is to invest in Bitcoin (BTC).<\/p>\n

The newly formed Seetee will also delve into the Bitcoin mining arena while looking to forge useful partnerships with major players in the crypto space. Indeed, Seetee has reportedly entered into a collaborative agreement with Blockstream.<\/p>\n

According to Blockstream CEO Samson Mow, the Bitcoin infrastructure firm will work closely with Seetee on its BTC mining and sidechain implementation pursuits.<\/p>\n

Despite the Norwegian government ending electricity subsidies to BTC miners back in November 2018, Bitcoin mining activity in the country still contributes to a significant proportion of the global hash rate distribution. <\/p>\n

Outside China, the country ranks eight in terms of global monthly hash rate according to data<\/a> from the Cambridge Bitcoin Electricity Consumption Index. As previously reported by Cointelegraph,\u00a0Bitfury signed an agreement with a private equity firm\u00a0to upgrade the latter\u2019s $35 million BTC mining farm.<\/p>\n

The press statement also revealed that the new company will look to pursue investments into other firms in the crupto and blockchain arena.<\/p>\n

Aker will provide 500 million Norwegian Krone ($58 million) in initial capitalization for Seetee with the new company holding all of its liquid investable assets in BTC. The move marks a significant departure from Aker\u2019s usual investments in oil exploring and marine biotech sectors.\u00a0Tweeting<\/a> on Friday, Seetee revealed that it has already purchased 1,170 BTC.<\/p>\n

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Today, we announced the launch of Seetee!
We are a new company in the Aker group, and will invest in ex\u00adcit\u00ading projects and com\u00adpa\u00adnies through\u00adout the #Bitcoin<\/a> ecosys\u00adtem.
Bitcoin is our treasury asset. Our first purchase was 1,170 BTC and our strategy is to hodl.<\/p>\n

\u2014 Seetee (@Seetee_io) March 8, 2021<\/a><\/p><\/blockquote>\n