Hot Rocks Investments plc Invests in Mendell Helium

Hot Rocks Investments plc has announced its acquisition of 7,500,000 new ordinary shares in Mendell Helium plc, priced at 2p per share, amounting to a total investment of £515,000. This strategic move also includes 7,500,000 warrants, with half exercisable at 4p and the other half at 6p per share. These warrants come with provisions for accelerated exercise.

Mendell Helium is currently exploring the feasibility of using excess methane from its operations in Kansas to power a Bitcoin mining initiative, a project still in the early stages. Additionally, the company has expressed interest in Bitcoin mining opportunities in Texas and Nebraska. Mendell plans to implement a Bitcoin treasury management policy to accumulate and manage Bitcoin as a reserve asset.

Gavin Burnell, Managing Director of Hot Rocks, expressed confidence in Mendell's management and their strategic direction, highlighting their move into digital assets as particularly noteworthy. This investment aligns with Hot Rocks' aim to diversify and add value for shareholders.