Shares in Bluebird Mining Ventures (LSE:BMV) fell 7% after the company announced a non-binding agreement to acquire 756 Bitcoin mining machines, raising investor concerns over its shift into digital assets.
The £200,000 deal, if completed, would be settled in equity at a future date and include a mix of Bitmain and Canaan ASIC units with a combined hashrate of 63,686 terahashes per second, a measure of computing power in cryptocurrency mining.
The company, primarily focused on gold project development in Asia, also plans to enter an advisory agreement to secure hosting sites and support engineering and energy optimisation.
Bluebird stressed the deal is subject to further due diligence and legal documentation, with no certainty it will be finalised.
The shares fell 0.033p to 0.47p.