Mining giant Critical Metal Corp plans to adopt Bitcoin financial strategy with available capital pool of $500 million

Odaily News US mining giant Critical Metal Corps said it plans to begin allocating its excess reserves to BTC, a decision that has been approved by its board of directors. According to the company's announcement, it may have access to a $500 million pool of funds, which will be part of a convertible note financing led by JBA Asset Management, subject to conditions contained in the transaction documents.
The company said that out of the $500 million pool, it will first allocate $100 million to buy Bitcoin. The first batch of funds has a 100% warrant coverage. It also said that the remaining $400 million can be used according to the buyer's wishes, with a warrant coverage of 50%.
Under the financing terms, the convertible notes are secured by the cash raised and the underlying BTC acquired. While the company has not yet announced strategic Bitcoin purchase plans, it said the move will depend on its cash flow needs and it may eventually modify some of the conditions of the strategy as it sees fit.