London BTC Company Ltd (LSE:BTC, OTCQB:VINZF) told investors it has begun targeting gold exploration projects in the US, adding a hard-asset strand to its Bitcoin mining and treasury strategy.
The London Stock Exchange-listed group said its Nevada subsidiary, Tethered Gold LLC, is now able to acquire prospective gold projects on its behalf, with Nevada and Arizona selected as the initial launch states.
Specialist geological group Schiehallion Consulting has been appointed to identify, evaluate, and potentially acquire gold exploration projects in established mining precincts. London BTC said Schiehallion has already provided an initial pipeline of prospects with near-term development potential.
Field operations are due to begin on 29 April, with teams on the ground across Nevada and Arizona. Initial work will cover due diligence and reconnaissance sampling of targeted mineralised systems before any acquisitions are pursued, subject to satisfactory results.
Chief executive Hewie Rattray said Bitcoin remains the foundation of the business and its primary treasury asset, but added that gold could complement that position as “the original monetary hedge”.
He said profits from gold activities would be channelled toward expanding Bitcoin mining operations and increasing Bitcoin held in treasury.