The US-listed company BitMine has completed a $250 million financing to increase its holdings of ETH as a core reserve asset

2025-06-30 20:16:03

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ChainCatcher news, according to CNBC, BitMine Immersion Technologies (NYSE: BMNR) announced the completion of a $250 million private placement, issuing 55,555,556 shares at a price of $4.50 per share. The deal was led by MOZAYYX, with participation from well-known investment firms such as Founders Fund and Pantera, and is expected to close around July 3, 2025.

BitMine plans to use the raised funds primarily to increase its holdings in Ethereum (ETH), intending to make it a core reserve asset while continuing to maintain its main business in Bitcoin mining.

Thomas Lee, founder of Fundstrat and Chief Investment Officer of Fundstrat Capital, has immediately taken office as the chairman of the company's board. This private placement is conducted under Section 4(a)(2) of the Securities Act and/or Regulation D, with ThinkEquity, LLC serving as the placement agent.

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