Blockmate Ventures Inc (TSX-V:MATE, OTCQB:MATEF) has launched a Bitcoin treasury division and completed its first purchase of the cryptocurrency, aligning its corporate strategy with a long-term view on Bitcoin’s value.
The move comes alongside the company’s mine-and-hold strategy through its wholly owned subsidiary, Blockmate Mining, which aims to accumulate Bitcoin as mining operations expand.
The new treasury division has already established secure wallet infrastructure, and the company said it plans to assess further Bitcoin purchases over time.
“Holding Bitcoin on Blockmate’s balance sheet provides capital growth opportunities for shareholders, as well as liquidity options should Blockmate Mining or future investees seek to take advantage of elevated Bitcoin market prices,” Blockmate Ventures CEO Justin Rosenberg said in a statement.
“These scenarios represent a win-win, enabling the company to realize value through both operational success and treasury appreciation.”
Blockmate Mining previously secured a site with electricity rates of 3.3 US cents per kilowatt-hour—among the lowest in North America—capable of supporting up to 200 megawatts (MW) of infrastructure. While Blockmate currently does not own the hardware to utilize this capacity, it said the site could, under current conditions, generate approximately 200 Bitcoin per month and mine at a roughly 40% discount to spot prices.