Robin Energy completes $5 million bitcoin allocation

Robin Energy Ltd. (NASDAQ: RBNE) completed its initial $5 million bitcoin allocation through Anchorage Digital Bank N.A., the Cyprus-based shipping company announced. The allocation was part of the company's treasury framework adopted in August.

The international ship-owning company, which provides energy transportation services globally, said it may adjust the allocation based on market conditions and operational efficiency requirements.

"We are pleased to have completed the allocation of $5 million to Bitcoin in accordance with our board-approved strategy," said Petros Panagiotidis, Chairman and Chief Executive Officer. "We believe in Bitcoin's unique characteristics as a scarce digital asset and see it as an integral component of our long-term strategy to grow our Company further and drive shareholder value."

Robin Energy owns one Handysize tanker vessel and one LPG carrier that transport petrochemical gases and refined petroleum products worldwide. The company first announced its bitcoin treasury strategy in an August 5 communication.

The announcement was made through a press release statement from the company.

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