(Provides quote, background)
OSLO, March 8 (Reuters) – Norway’s Aker ASA is establishing a brand new unit devoted to investing in bitcoin and blockchain know-how, the economic holding firm mentioned on Monday.
Seetee AS would initially have a capital of 500 million Norwegian crowns ($58.6 million) and deliberate to maintain its liquid property in bitcoin, Aker mentioned.
Seetee would collaborate with Canada’s Blockstream, focusing initially on bitcoin mining whereas additionally looking for to fuse blockchain know-how with Aker’s industrial operations, it mentioned.
“These applied sciences have the potential to cut back frictions in our each day lives, improve the safety of our digitally pushed economies, and unlock new enterprise fashions for innovation,” Aker ASA Chief Govt Oeyvind Eriksen mentioned.
Aker, a holding firm managed by Norwegian billionaire investor Kjell Inge Roekke, derives most of its revenue from the oil and gasoline trade, and has lately elevated its investments in renewable vitality and knowledge know-how.
$1 = 8.5319 Norwegian crowns Reporting by Terje Solsvik; Modifying by Tom Hogue and Edmund Blair