Issued on behalf of Spearmint Resources Inc.
VANCOUVER – USA News Group – With the upcoming inauguration of US President Re-Elect Donald Trump on the horizon, several businesses are diversifying into cryptocurrencies, moving away from traditional treasury assets. Various industry players from mining to biotech are allocating portions of their cash to bitcoin and other cryptocurrencies ahead of the transition. Both AI and digital assets are undergoing a rapid transformation, with plenty of chess pieces moving on the board including the appointment of David Sacks as the new AI and Crypto Czar, and the resignation of Gary Gensler from the SEC, signalling a shift in how the federal government plans to regulate and support these impactful technologies. Already, the market is reacting, as cryptocurrency-related stocks have become a must-watch in today’s market, with examples of diversification into the space coming from players such as Spearmint Resources Inc. (CSE: SPMT) (OTCPK: SPMTF) (WKN: A2AHL5), Tesla, Inc. (NASDAQ: TSLA), Enlivex Therapeutics Ltd. (NASDAQ: ENLV), Hoth Therapeutics, Inc. (NASDAQ: HOTH), and MicroStrategy Incorporated (NASDAQ: MSTR).
The article continued: It’s been just over a year since the SEC legalized bitcoin spot ETFs, and the impact continues to gain momentum on stocks involved with crypto. In 2024, crypto was one of the two drivers that drove gains in the year’s top 5 tech stocks, especially after Donald Trump’s election victory in November.
Spearmint Resources Inc. (CSE: SPMT) (OTCPK: SPMTF) (WKN: A2AHL5), a company with flagship mining assets in antimony and also lithium, recently announced that it more than doubled its crypto holdings via additional purchases of Solana. Solana is a crypto-computing platform that aims to achieve high transaction speeds without sacrificing decentralization. It seeks to improve scalability through a different approach in the blockchain industry, combining a proof-of-history (PoH) consensus with the blockchain's underlying proof-of-stake (PoS) consensus. This approach has attracted interest from a diverse range of traders, from small-scale individuals to institutional entities. Solana claims it can process around 50,000 transactions per second. Solana is both a cryptocurrency and a flexible platform for developers building decentralized applications (dApps) across various industries, including DeFi, gaming, non-fungible tokens (NFTs) and financial derivatives.
“In an effort to be as proactive as possible towards building shareholder value, management feels that diversifying into Solana specifically holds the highest potential for growth within the crypto space,” said James Nelson, President of Spearmint. “We are taking advantage of the dip and have recently made additional Solana purchases resulting in more than doubling our initial position. We intend to continue this crypto diversification plan of action for the foreseeable future and will update the market regarding this strategy in the short and long term.”
The move comes months after Spearmint announced its intention to diversify into crypto, back in November 2024, using a port of its cash on hand to dip into the crypto market.
It was also in November, that Spearmint broke into the antimony space, by acquiring the George Lake South Antimony Project in New Brunswick, consisting of 1,945 contiguous acres prospective for antimony.
"Year to date, antimony prices have more than doubled, making it one of the best performing commodities this year, said James Nelson, President of Spearmint, at the time of the acquisition. “This is a great addition to our stable of projects and being in Canada, it allows us to access flow through money if needed. These are truly exciting times for Spearmint and
Spearmint shareholders."
Spearmint quickly followed up by rapidly expanding the project’s footprint, more than doubling the George Lake South Antimony Project’s acreage to 4,722 contiguous acres in mid-December. The new project is in the direct vicinity of the Lake George Antimony Mine in New Brunswick which was operated intermittently from 1876 to 1996 and was once the largest primary antimony producer in North America.
The aggressive move into the antimony space was Spearmint’s response to China’s ban of critical mineral exports to the USA, including antimony. As trade tensions escalate between the USA and China, their move clearly emphasized the urgent need for Western nations to secure reliable long-term sources of these critical minerals which are now at the forefront of the global supply chain crisis.
"This recent move by China is a clear signal of the importance for Western nations to explore for and develop a domestic supply of these critical minerals,” said Nelson. “Year to date [2024], antimony prices have more than doubled, making it one of the best performing commodities this year and this recent move by China will likely further exacerbate this price surge. Management is currently formulating a plan to begin work on the George Lake South Antimony Project.”
Spearmint also highlights its lithium holdings in Clayton Valley, Nevada, which show potential for both lithium clay and lithium brine. With growing interest in domestically sourced lithium projects, and recent data showing global EV sales are on the rise, Spearmint is optimistic about increased market attention in 2025.
Other recent industry developments and happenings in the market include:
With its CEO Elon Musk set to be involved with the incoming Trump administration, Tesla, Inc. (NASDAQ: TSLA) holds 11,509 BTC in its portfolio (worth over US$1.13 billion at current prices as of January 15, 2025), according to data from Arkham Intelligence. Tesla’s bitcoin holdings are up 18.4% from its previously reported 9,720 BTC reported as of May 2024.
Strangely enough, Tesla turned its back on receiving bitcoin back in 2021, even after Musk once called the digital asset “a good idea on many levels.” With the CEO’s growing influence in Washington DC, there’s a potential for Tesla to further benefit from a pro-crypto administration with looser regulations and more mainstream adoption encouraged.
Now there are rumors that Musk’s social media platform X may start accepting cryptocurrency as a payment method, potentially Dogecoin. Musk has incorporated Dogecoin into Tesla where , Dogecoin can be used to purchase select merchandise, while SpaceX’s DOGE-1 lunar mission was sponsored by the cryptocurrency, and accepted payment for the rescheduling of the mission.
Enlivex Therapeutics Ltd. (NASDAQ: ENLV), a clinical-stage macrophage reprogramming immunotherapy company, announced late last year that its Board of Directors approved the purchase of up to $1 million of Bitcoin as part of its cash management strategy.
“As demand for Bitcoin has grown, together with its rising acceptance as a recognized medium of exchange, we believe that Bitcoin will serve the Company as a strong and diversifying treasury reserve asset,” said Oren Hershkovitz, CEO of Enlivex. “With the recent approvals of Bitcoin ETFs and growing support from institutional investors, we believe that Bitcoin can provide the Company with a potential functional store of value and an inflation hedge to standard currencies.”
Hoth Therapeutics, Inc. (NASDAQ: HOTH), a patient focused biopharmaceutical company, also announced back in November 2024 that its Board of Directors approved the purchase of up to $1 million in Bitcoin.
"As Bitcoin continues to grow, gaining investor attention and acceptance as a major and primary asset class, we believe that Bitcoin will serve as a strong treasury reserve asset," said Robb Knie, CEO of Hoth. "With recent approval of Bitcoin ETFs and increasing activity from institutional investors, it is a strong addition to our treasury strategy. We believe its inflation-resistant characteristics may make it a reliable asset as a functional store of value."
MicroStrategy Incorporated (NASDAQ: MSTR), a pioneer in AI-powered business intelligence, was recently reported by Bloomberg that it bought US$101 million of Bitcoin after announcing that it would use perpetual preferred stock as well as common shares and debt to acquire more of the cryptocurrency. MicroStrategy has purchased Bitcoin for nine consecutive weeks, as co-founder and Chairman Michael Saylor aims to advance its Bitcoin holding strategy. It holds around $44.3 billion in Bitcoin. Being a levered play on Bitcoin has meant that MicroStrategy can often follow the cryptocurrency’s price swings.
“That volatility itself is a key element of MicroStrategy’s approach because it enables the company to tap into the capital markets and particularly the convertible bond market more easily,” said Benchmark analyst Mark Palmer. “If the company was not trading in this manner and that volatility did not exist, it would actually be more difficult for it to execute its strategy.”
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