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Robin Energy Ltd. (RBNE) announced its board of directors unanimously approved bitcoin as a primary treasury reserve asset and authorized an initial $5 million allocation to the cryptocurrency.
The Cyprus-based shipping company said the allocation is part of a comprehensive bitcoin treasury framework targeting up to 50% of its long-term cash reserves. Additional purchases beyond the initial allocation would be deployed through dollar-cost averaging, according to the company’s statement.
"Our Board’s endorsement of Bitcoin as a treasury reserve asset represents a carefully considered strategic decision to optimize our balance sheet for long-term value creation," said Petros Panagiotidis, chairman and chief executive officer of Robin Energy.
The company stated bitcoin purchases will be funded through existing cash reserves without affecting operational liquidity or growth initiatives. Robin Energy plans to execute purchases and custody arrangements through qualified digital asset custodians.
Robin Energy operates as an international ship-owning company providing energy transportation services. The company owns one Handysize tanker vessel and one LPG carrier that transport petrochemical gases and refined petroleum products globally.
The announcement comes as the company noted that actual allocation amounts, timing and implementation methods may vary based on market conditions, operational requirements, custodial availability and board discretion.