ChainCatcher news, according to Protos, the Norway-based mining company Green Minerals, headquartered in Oslo, had a market value of less than $6 million before announcing plans to purchase $1.2 billion worth of Bitcoin (BTC). After the news was released, the company's stock price soared to four times its value at one point, but then fell 58% from its peak within two days.Since going public in March 2021, the company's stock price has dropped from $3.33 to its current $0.37, a decline of up to 92%. Although the stock price saw a boost this week due to Bitcoin news, Green Minerals still plans to continue its deep-sea mining operations. The company attempts to emphasize the potential of blockchain technology in enhancing operational efficiency and supply chain transparency, including generating unique mineral source certifications with almost no actual customer demand. Green Minerals stated that blockchain will differentiate its approach from MicroStrategy, which has almost entirely shifted from business analytics software to a Bitcoin narrative.The company has previously purchased 4 Bitcoins and announced the adoption of a Bitcoin reserve strategy as part of its overall blockchain strategy.