BitMine has completed a $250 million financing to increase its holdings of ETH as a core reserve asset.

robot
Abstract generation in progress

On June 30, according to CNBC, BitMine Immersion Technologies (NYSE: BMNR) announced the completion of a $250 million private sale, issuing 55,555,556 shares at a price of $4.50 per share. The transaction was led by MOZAYYX, with participation from renowned investment firms such as Founders Fund and Pantera, and is expected to complete delivery around July 3, 2025. BitMine plans to use the raised funds primarily to increase its holdings in Ether (ETH), intending to make it a core reserve asset, while continuing to maintain its main business of Bitcoin mining. Fundstrat founder and Fundstrat Capital Chief Investment Officer Thomas Lee has immediately taken up the position of chairman of the company's board. This private issuance is conducted under Section 4(a)(2) and/or D regulations of the Securities Act, with ThinkEquity, LLC serving as the placement agent.

ETH0.79%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
0/400
No comments
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate app
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)