Aker ASA

Aker ASA is a diversified industrial group in Norway, with businesses covering energy, technology, shipping, and other fields. Its cryptocurrency-related operations are carried out through its subsidiary Seetee AS, with core models including: Bitcoin Strategic Reserve: By issuing stocks, bonds, and other financing methods, liquidity assets are converted into long-term holdings of Bitcoin. For example, in July 2025, it was disclosed that 754 Bitcoins were held, valued at approximately 82 million USD, accounting for 1.7% of the company's market value. Energy and Blockchain Synergy: Utilizing Norway's abundant hydropower resources to explore Bitcoin mining operations, transforming "stranded power" (underutilized renewable energy) into computing power resources, which not only reduces mining costs but also promotes energy transition. Ecological investment layout: Participating in blockchain infrastructure, decentralized finance (DeFi), and other fields through venture capital (such as Aker Climate), for example, investing in the Layer-2 scaling platform Caldera (ERA) to support enterprise-level blockchain applications. Market demonstration effect: As the first publicly listed company in the Nordic region to hold a large amount of Bitcoin, its strategy is seen as a benchmark for the digital transformation of traditional enterprises, attracting the attention of institutional investors.

Bitcoin price appreciation: By buying Bitcoin at a low price and holding it for the long term, you can enjoy capital gains from the increase in coin value. For example, in July 2025, the price of Bitcoin is approximately $108,000 per coin, and the market value of the holdings has increased by over 300% compared to the initial investment in early 2021. Equity financing leverage: Issuing shares at a price higher than the net asset value (NAV) of Bitcoin assets, for example, issuing 50 million Norwegian kroner in shares at 2 times NAV in June 2025, directly increasing shareholder equity. Mining Revenue: Profiting from mining using renewable energy through block rewards and transaction fees. Although specific earnings for 2025 have not been disclosed, the initial funding of 58 million USD for the Seetee project launched in 2021 has been used to deploy mining machines. Ecological investment returns: Obtaining token appreciation and dividends by investing in blockchain projects (such as Caldera, Arweave), for example, the ERA token of Caldera saw a weekly increase of 40% in June 2025.

Financial Diversification: Bitcoin reserves hedge against traditional business risks, such as fluctuations in energy prices. In the first half of 2025, Aker ASA's net asset value (NAV) increased from 783 Norwegian kroner per share to 895 Norwegian kroner per share, with significant contributions from Bitcoin holdings. Energy transition benchmark: The combination of Bitcoin mining and hydropower promotes Norway's "carbon neutrality" goal and enhances corporate ESG (Environmental, Social, Governance) ratings. For example, its mining operations have been listed by the Norwegian government as a "green computing power" demonstration project. Technical collaborative innovation: Blockchain investment feeds back into traditional businesses, for example, Arweave's permanent storage technology is applied to oil exploration data archiving, reducing centralized storage costs. Market confidence is anchored: The identity of listed companies enhances the legitimacy of Bitcoin as an institutional asset, attracting traditional funds to indirectly allocate cryptocurrency through equity investments. For example, its stock price has a correlation of 0.8 with Bitcoin prices (2025 data).

Bitcoin ( BTC ): Demand-side pull: From 2021 to the present, a total of 754 bitcoins have been purchased, with concentrated purchases when the price of bitcoin broke through $100,000 being seen as a short-term price support factor, especially triggering follow-up buying during times of market liquidity tightness. Institutional Demonstration Effect: Aker ASA's holding strategy has been emulated by European companies, such as the Swedish mining company Boliden AB, which announced in 2025 that it would allocate 5% of its cash flow to Bitcoin. Energy - Financial Closed Loop: Mining operations consume renewable energy, indirectly enhancing Bitcoin's "green attributes," attracting ESG investors, and promoting long-term valuation increases in coin prices. Other cryptocurrencies: There is no public information showing that the company directly holds other cryptocurrencies such as ETH and SOL, but it participates indirectly in the Ethereum ecosystem through investments in projects like Caldera (ERA) and Arweave (AR).