Aker

Aker ASA

Treasury Qualification

Treasury classificationOperating Company with BTC Treasury

Qualification tierCore Directory

Directory statusIncluded

Ownership statusAker has a 90% ownership interest in Seetee, which holds 754 BTC. To avoid overstating the economic Bitcoin attributable to Aker ASA shareholders, this directory counts only Aker's 90% attributable interest, equal to 678.6 BTC. The full Seetee balance is noted but not counted in full because Aker does not own 100% of Seetee.

Strategic intent

Aker has strategic Bitcoin exposure through Seetee, an Aker-family company that keeps its liquid investable assets in Bitcoin, describes Bitcoin as its treasury asset, and states that its strategy is to hold Bitcoin while investing in the Bitcoin ecosystem. Aker treats the Seetee position as part of its unlisted portfolio and has highlighted the holding as hidden value within its investment portfolio.

Bitcoin Treasury

BTC counted in directory679 BTC

Estimated value$43,226,820BTC price retrieved: July 28, 2026 at 19:54 UTC

Holdings as ofJune 30, 2025

Average purchase priceNot disclosed

Ownership and Restrictions

Component figures are shown only when separately disclosed. “Not separately disclosed” does not imply zero.

Total BTC reported754

Unencumbered / unrestrictedNot separately disclosed

Pledged as collateralNot separately disclosed

Loaned to third parties0

Subsidiary-owned754

Other restricted / receivable75

Latest Financial Results

Reporting period: Second quarter 2025 shareholder letter

RevenuePending

Operating income/lossPending

Net income/lossPending

CashPending

Management

Chief executive officer: Øyvind Eriksen
Chief financial officer: Frank O. Reite
Executive chair: Kjell Inge Røkke

Research Notes

Aker reported in its second-quarter 2025 shareholder letter that Seetee holds 754 BTC, valued at approximately NOK 800 million, and that Aker owns 90% of Seetee. The directory therefore counts 678.6 BTC as the Bitcoin economically attributable to Aker ASA, while recording the full 754 BTC as the subsidiary-reported balance. The remaining 75.4 BTC represents the non-Aker minority interest and is excluded from the verified attributable total. Seetee's own materials state that Bitcoin is its treasury asset and that its strategy is to hold Bitcoin while investing in the Bitcoin ecosystem. No customer, borrowed, or third-party custodial Bitcoin is included. The reviewed Aker disclosure did not provide a pledged-versus-unencumbered Bitcoin reconciliation, so those fields remain unspecified.