London-based gold mining company, Hamak Gold Limited, announced plans to implement a Bitcoin treasury strategy after concluding a successful £2.47 million fundraising round at a 27% discount.
In a press release, the company revealed the issuance of 308.4 million new shares, 68.2% of its enlarged share capital. Each share includes a two-year warrant, wth existing shareholders receiving equivalent terms.
The financing round has witnessed participation from Qatari royal-linked MBS Global Investments, which committed £100,000, with proceeds partly allocated to Bitcoin acquisitions.
Hamak Gold Plans for Dual Gold-Bitcoin Strategy
Hamak’s leadership underwent restructuring, with new executives Nick Thurlow and James Lawrence facilitating the share issuance amid regulatory constraints.
The company has applied for FCA approval to list the new shares, expecting trading to commence by July 4.
The FCA’s requirement for a prospectus reflects tightening scrutiny on crypto-linked equity issuances. Hamak’s workaround reveals creative financing approaches in a regulated environment, issuing shares to directors for resale.
Legal experts suggest that this could become a template for firms facing similar problems in the UK’s evolving crypto compliance landscape.
With this announcement, Hamak joins the latest trend of Bitcoin treasury, including Panther Metals and Bluebird Mining Ventures, which raised £2 million to buy BTC.
Vinanz and Smarter Web Company have also expanded their Bitcoin holdings, with the latter’s market cap soaring to £806 million after announcing its crypto strategy.
Chair Thurlow stated that “With the injection of additional capital, we are now well-positioned to pursue two core objectives in parallel, maximising our gold exploration opportunities and leading the UK market in bitcoin treasury management as a Main Market-listed company.”
Hamak Gold’s approach to Bitcoin treasury management shows a strategic realignment among commodity firms hedging against fiat volatility. The announcement comes as institutional interest in Bitcoin as a treasury asset grows, particularly among resource companies seeking to balance traditional holdings with crypto exposure.
Analysts noted that this move could set the stage for other London-based mining firms to diversify their reserves.
MBS Global’s involvement shows growing Middle Eastern institutional interest in Bitcoin through indirect exposure. Sheikh Nayef Bin Eid AI Thani’s office has previously invested in tech ventures, but this move is its first known crypto-linked move via a London-listed entity.
While Strategy’s U.S.-led model dominates headlines, Hamak’s adoption of a similar strategy highlights Europe’s quieter but growing corporate Bitcoin adoption. However, unlike American firms, UK companies face stricter disclosure rules.
Also Read: Bitstamp Wins Singapore License in a Shrinking Crypto Landscape
