Bluebird Mining Ventures Ltd., a gold mining company listed on the London Stock Exchange and operating in Asia, is merging traditional mining with digital assets. The company has announced a bold strategic transformation plan. The company plans to transition to a “digital gold” model by converting revenues from its flagship project in the Philippines into Bitcoin. The move is a first for a UK-based mining company.
Bluebird to buy Bitcoin
Bluebird completed the license renewal process for its gold project in the Philippines on May 6, 2025. Since then, negotiations with local partners have progressed positively. The company expects these negotiations to result in a binding agreement in the near future. With the new agreement, Bluebird will be able to continue to receive a profit share in the project without incurring any additional costs until the production phase.
On the other hand, the company is preparing for the legal process to protect the value of its mining projects in South Korea. The company's legal team has completed the documents for the administrative lawsuit, which is planned to be filed before June 18, 2025. As the fate of the projects in South Korea remains uncertain, Bluebird is exploring alternative ways to capitalize on these assets without seeking new investment.
The company's most notable move, however, is its new treasury management strategy, which aims to convert future revenues into Bitcoin. The company plans to systematically convert its gold earnings into Bitcoin and hold the digital asset on its balance sheet as a long-term reserve asset. Thus, it aims to offer investors returns on both traditional and digital custodians of value.
Gold and “digital gold” together
Bluebird's Interim CEO and Board Member Aidan Bishop said: “I am very pleased with the negotiations in the Philippines, and once this process is successfully completed, Bluebird will maintain a stake in the project with no future cash obligations.” He also emphasized that with the “gold plus digital gold” strategy, the company can move forward with stronger steps into the future.
The company is also looking for a new CEO to lead this transformation. With the leadership of an experienced name in crypto assets, Bluebird aims to appeal to a more innovative and technology-oriented investor profile.
Bluebird currently owns two former gold and silver mines in South Korea, Gubong and Kochang, as well as the Batangas Gold Project in the Philippines, with a total gold reserve of approximately 1.8 million ounces. So far, $9 million in investment commitments have been received for these projects.
MicroStrategy was the first company to adopt Bitcoin as a reserve asset. Following MicroStrategy's (now just Strategy) purchase of Bitcoin in 2020, many companies have made up their minds to add BTC to their treasury.
