Bluebird Mining Ventures (LSE:BMV) shares fell 8.6% to 0.1006p after it signed an agreement to invest in a 4.8MW Texas bitcoin project.
The Texas Project is structured to provide contracted, bitcoin-linked cash flows on a daily basis and is designed to generate consistent revenues from mining operations supported by established infrastructure.
Digital Carpenters will provide end-to-end data-centre and mining operations from site feasibility and design to procurement, commissioning and daily operations while BMV supplies capital and intends to recycle the resulting cash flows within its treasury to generate additional yield, and "The agreement with Digital Carpenters is a landmark moment for BMV as we transition into a revenue generating business," said Sath Ganesarajah, Chief Executive Officer of BMV.
The company says the Texas Project is the first execution of its strategy to build a portfolio of gold and bitcoin-linked cash flow opportunities through contracted exposure, with first revenues expected in the coming weeks and further investment optional through the three-year term.
