Cyprus-based international ship-owning firm Robin Energy today announced the successful conclusion of its initial $5 million Bitcoin (BTC) allocation through Anchorage Digital Bank N.A., as part of its newly adopted treasury framework.

Robin Energy Buys $5 Million Worth Of Bitcoin

According to an announcement made earlier today, Robin Energy has completed its initial $5 million worth of BTC purchase. With this, the Cyprus-based company, which also provides energy transportation services has become the latest firm to leverage digital assets to diversify its portfolio.

Following the development, the firm’s Nasdaq-listed stock RBNE spiked 90%, hitting an intraday high of $4.27 before losing some of its gains. On a year-to-date (YTD) basis, the stock has increased by 106.8%.

It is worth

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