Nilam Resources to Acquire 24,800 Bitcoin for Treasury

• Nilam Resources announced plans to acquire 24,800 Bitcoin, aiming to establish a corporate treasury centered on Bitcoin.
• The initiative underscores a growing shift toward Bitcoin-backed financial reserves.

On March 25, 2024, Nilam Resources, Inc. announced a Letter of Intent to acquire 24,800 Bitcoin to create a corporate treasury of Bitcoin. This initiative marks a significant advancement in the adoption of Bitcoin for corporate reserves and solidifies Bitcoin’s position as a key player in the digital asset ecosystem.

The acquisition is structured through a Letter of Intent with Xyberdata Ltd for Nilam Resources to acquire 100% of a special purpose vehicle, MindWave, which will hold the 24,800 Bitcoin.

After the transaction closes, Bitcoin will form a core part of Nilam Resources, Inc.’s corporate reserves. This strategy highlights a growing trend of companies diversifying treasury holdings with digital assets like Bitcoin, marking a pivotal evolution in cryptocurrency-based reserve management.

This initiative also requires key changes to Nilam Resources, Inc.’s board, as Pranjali More will become the new CEO of Nilam Resources, Inc.