$6-billion Norwegian Company Establish New Firm Dedicated to Bitcoin Investment

By Robin Wong | March 22, 2021

Aker ASA, a $6-billion Oslo Bors-listed holding firm – is reportedly planning to start putting investment into Bitcoin, following the establishment of its new company – Seetee AS. 

Specifically, the freshly established Seetee AS will reportedly take care of Bitcoin (BTC) investment for Aker, and additionally deep-dive into the Bitcoin mining while forming strategic alliances with big names in the crypto sphere. One nominal collaboration is with Blockstream. 

Per Blockstream chief strategy officer Samson Mow, the Bitcoin infrastructure entity will reportedly collaborate closely with Seetee, regarding its BTC mining and sidechain implementation initiatives. 

Despite the Norwegian authority terminating electricity subsidies for BTC miners in November 2 years ago, Bitcoin mining activity across the nation still reportedly makes noteworthy contributions to the international hash rate distribution.

Apart from China, Norway reportedly secures the 8th spot regarding international month-to-month hash rate, per insights generated by the Cambridge Bitcoin Electricity Consumption Index.

Previously, Bitfury has reportedly inked an agreement with a private equity entity to work on the upgrade for  the latter’s $35-million BTC mining farm.

The press statement further disclosed that the new firm will reportedly spend resources in investing in different companies across the crypto and blockchain sectors. 

“With the launch of Seetee, the Aker Group makes another move into software and fintech. We are very excited about the industrial opportunities that will be unlocked by Bitcoin and blockchain technology, and want to contribute forcefully to that effort.” Aker CEO Øyvind Eriksen reportedly stated.

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