Meet Wall Street's Most Unusual Bitcoin Stock: A Coal Producer Sporting an Eye-Popping 10% Yield

Core Viewpoint - The article highlights the growing trend of corporate adoption of Bitcoin, with a focus on Alliance Resource Partners as a unique player in the Bitcoin space among public companies, particularly in the coal mining industry [1][9][10]. Group 1: Bitcoin Ownership Among Public Companies - A significant number of publicly traded companies are adding Bitcoin to their balance sheets, with nearly four dozen owning at least 100 Bitcoin as of late December [4]. - MicroStrategy is the largest holder, with 471,107 Bitcoin, representing 2.24% of all Bitcoin that will ever exist [5]. - Other notable companies include Marathon Holdings with 45,659 Bitcoin, Riot Platforms with 18,221 Bitcoin, and Hut 8 with 10,208 Bitcoin [7]. Group 2: Alliance Resource Partners' Unique Position - Alliance Resource Partners, primarily known for coal mining, holds 482 Bitcoin, making it one of the top 15 U.S.-based public companies in Bitcoin ownership [10][11]. - The company became involved in Bitcoin mining by utilizing excess power from its coal operations, allowing it to mine Bitcoin profitably [12]. - Unlike other companies, Alliance Resource does not purchase Bitcoin but mines it, selling a portion to cover operational expenses while retaining the rest [11][12]. Group 3: Diversification and Financial Strategy - The company is diversifying its operations due to declining coal usage in developed markets, focusing on international exports to enhance production and sales [13]. - Alliance Resource locks in volume and price commitments up to four years in advance, which supports its 10% dividend yield [14]. - The development of oil and natural gas mineral interests has been ongoing for over a decade, providing potential for increased earnings as energy commodity prices rise [15]. Group 4: Future Outlook - Bitcoin mining is currently an ancillary venture for Alliance Resource Partners, but it has the potential to improve financial flexibility if it continues to operate profitably [16].