BitMine Immersion Technologies Announces $250 Million Private Placement to Initiate Ethereum Treasury Strategy; Expected to Become One of the Largest Publicly Traded ETH Holders
BitMine Immersion Technologies (NYSE AMERICAN: BMNR) has announced a significant $250 million private placement through the sale of 55,555,556 shares at $4.50 per share. The transaction, expected to close around July 3, 2025, was led by MOZAYYX with participation from notable investors including Founders Fund, Pantera, and others.
In a strategic move, the company plans to use the proceeds to acquire Ethereum (ETH) as its primary treasury reserve asset, increasing its existing treasury holdings by over 16x. The initiative will be supported by partnerships with FalconX, Kraken, and Galaxy Digital, alongside existing custody partners BitGo and Fidelity Digital.
Notably, Thomas Lee, Founder of Fundstrat and CIO of Fundstrat Capital, has been appointed as Chairman of the Board of Directors effective immediately. The private placement was conducted under Section 4(a)(2) of the Securities Act and/or Regulation D, with ThinkEquity, LLC acting as the placement agent.
BitMine Immersion Technologies (NYSE AMERICAN: BMNR) ha annunciato un'importante operazione di collocamento privato da 250 milioni di dollari tramite la vendita di 55.555.556 azioni a 4,50 dollari per azione. La transazione, che dovrebbe concludersi intorno al 3 luglio 2025, è stata guidata da MOZAYYX con la partecipazione di investitori di rilievo come Founders Fund, Pantera e altri.
In una mossa strategica, la società prevede di utilizzare i proventi per acquisire Ethereum (ETH) come principale riserva di cassa, aumentando così le sue riserve di tesoreria esistenti di oltre 16 volte. L'iniziativa sarà supportata da partnership con FalconX, Kraken e Galaxy Digital, insieme ai partner di custodia esistenti BitGo e Fidelity Digital.
È importante sottolineare che Thomas Lee, fondatore di Fundstrat e CIO di Fundstrat Capital, è stato nominato Presidente del Consiglio di Amministrazione con effetto immediato. Il collocamento privato è stato effettuato ai sensi della Sezione 4(a)(2) del Securities Act e/o del Regolamento D, con ThinkEquity, LLC come agente di collocamento.
BitMine Immersion Technologies (NYSE AMERICAN: BMNR) ha anunciado una importante colocación privada de 250 millones de dólares mediante la venta de 55,555,556 acciones a 4.50 dólares por acción. La transacción, que se espera cierre alrededor del 3 de julio de 2025, fue liderada por MOZAYYX con la participación de inversores destacados como Founders Fund, Pantera y otros.
En un movimiento estratégico, la compañía planea utilizar los fondos para adquirir Ethereum (ETH) como su principal activo de reserva en tesorería, aumentando sus reservas existentes en más de 16 veces. La iniciativa contará con el apoyo de asociaciones con FalconX, Kraken y Galaxy Digital, junto con los socios de custodia existentes BitGo y Fidelity Digital.
Es importante destacar que Thomas Lee, fundador de Fundstrat y CIO de Fundstrat Capital, ha sido nombrado presidente de la junta directiva con efecto inmediato. La colocación privada se realizó bajo la Sección 4(a)(2) de la Ley de Valores y/o el Reglamento D, con ThinkEquity, LLC actuando como agente colocador.
BitMine Immersion Technologies (NYSE AMERICAN: BMNR)는 4억 5천만 달러 규모의 사모 발행을 발표했습니다. 4.50달러에 55,555,556주를 판매하는 이번 거래는 2025년 7월 3일경 완료될 예정이며, MOZAYYX가 주도하고 Founders Fund, Pantera 등 주요 투자자들이 참여했습니다.
회사는 전략적 결정으로 이번 자금을 이더리움(ETH)을 주요 재무 준비 자산으로 취득하는 데 사용할 계획이며, 기존 재무 보유량을 16배 이상 늘릴 예정입니다. 이 계획은 FalconX, Kraken, Galaxy Digital과의 파트너십뿐만 아니라 기존의 BitGo와 Fidelity Digital의 수탁 파트너들과 함께 진행됩니다.
특히, Fundstrat의 창립자이자 Fundstrat Capital의 CIO인 토마스 리(Thomas Lee)가 즉시 효력을 발휘하는 이사회 의장으로 임명되었습니다. 이번 사모 발행은 증권법 섹션 4(a)(2) 및/또는 규정 D에 따라 진행되었으며, ThinkEquity, LLC가 배정 대행사 역할을 맡았습니다.
BitMine Immersion Technologies (NYSE AMERICAN : BMNR) a annoncé un placement privé important de 250 millions de dollars par la vente de 55 555 556 actions à 4,50 dollars par action. La transaction, dont la clôture est prévue aux alentours du 3 juillet 2025, a été menée par MOZAYYX avec la participation d'investisseurs notables tels que Founders Fund, Pantera et d'autres.
Dans une démarche stratégique, la société prévoit d'utiliser les fonds pour acquérir de l'Ethereum (ETH) en tant qu'actif principal de réserve de trésorerie, augmentant ainsi ses avoirs en trésorerie existants de plus de 16 fois. Cette initiative sera soutenue par des partenariats avec FalconX, Kraken et Galaxy Digital, ainsi que par les partenaires de garde actuels BitGo et Fidelity Digital.
Notamment, Thomas Lee, fondateur de Fundstrat et directeur des investissements de Fundstrat Capital, a été nommé président du conseil d'administration avec effet immédiat. Le placement privé a été réalisé conformément à la section 4(a)(2) du Securities Act et/ou au règlement D, avec ThinkEquity, LLC agissant en tant qu'agent de placement.
BitMine Immersion Technologies (NYSE AMERICAN: BMNR) hat eine bedeutende Privatplatzierung in Höhe von 250 Millionen US-Dollar angekündigt, bei der 55.555.556 Aktien zu je 4,50 US-Dollar verkauft werden. Die Transaktion, deren Abschluss für etwa den 3. Juli 2025 erwartet wird, wurde von MOZAYYX geleitet, mit Beteiligung namhafter Investoren wie Founders Fund, Pantera und weiteren.
In einem strategischen Schritt plant das Unternehmen, die Erlöse zu verwenden, um Ethereum (ETH) als primären Treasury-Reservewert zu erwerben und damit seine bestehenden Treasury-Bestände um das mehr als 16-fache zu erhöhen. Die Initiative wird durch Partnerschaften mit FalconX, Kraken und Galaxy Digital unterstützt, neben den bestehenden Verwahrpartnern BitGo und Fidelity Digital.
Bemerkenswert ist, dass Thomas Lee, Gründer von Fundstrat und CIO von Fundstrat Capital, mit sofortiger Wirkung zum Vorsitzenden des Vorstands ernannt wurde. Die Privatplatzierung wurde gemäß Abschnitt 4(a)(2) des Securities Act und/oder Regulation D durchgeführt, wobei ThinkEquity, LLC als Platzierungsagent fungierte.
- Secured $250 million in private placement funding from high-profile investors
- Strategic expansion of treasury holdings by over 16x through ETH acquisition
- Appointment of prominent financial figure Thomas Lee as Chairman
- Partnerships with major crypto firms FalconX, Kraken, and Galaxy Digital
- Access to protocol-level activities like staking and DeFi mechanisms through ETH holdings
- Significant dilution through issuance of 55,555,556 new shares
- High exposure to cryptocurrency market volatility through ETH treasury strategy
- Subject to regulatory risks and Securities Act restrictions on share resale
Insights
BitMine's $250M raise to build an ETH treasury represents a significant institutional move into Ethereum with potential valuation implications.
BitMine Immersion's $250 million private placement marks a pivotal strategic shift for the company, transforming from a traditional mining operation into a significant Ethereum stakeholder. This move goes beyond simply holding cryptocurrency—it positions BitMine to leverage Ethereum's entire ecosystem through staking and DeFi mechanisms, potentially generating additional yield on their treasury assets.
The caliber of investors participating in this placement is particularly noteworthy. The involvement of established cryptocurrency ventures like Pantera, Kraken, and Galaxy Digital alongside traditional finance players suggests strong institutional confidence in both BitMine's strategy and Ethereum's long-term prospects. This diverse investor consortium bridges the traditional finance and cryptocurrency worlds in a way few other public companies have managed.
The appointment of Thomas Lee as Chairman adds significant credibility. As Fundstrat's founder, Lee brings market analysis expertise that will be crucial for managing BitMine's treasury operations in the volatile cryptocurrency space. His mention of stablecoins as the "chatGPT of crypto" highlights a strategic vision focused on Ethereum's utility as the dominant settlement layer for the growing stablecoin market.
The introduction of "ETH held per share" as a key performance indicator creates a new valuation framework for BitMine. This metric effectively transforms the company into a leveraged play on Ethereum's price while maintaining operational cash flows from its core business. The 16x increase in treasury holdings represents a fundamental transformation of BitMine's balance sheet risk profile and potential return characteristics.
By focusing on Ethereum rather than Bitcoin, BitMine is making a calculated bet on the future of programmable blockchains over pure store-of-value assets. This differentiated approach in the public markets could potentially create a new category of cryptocurrency-exposed equities beyond the typical mining operations most investors are familiar with.
Thomas (Tom) Lee, the Founder of Fundstrat and CIO of Fundstrat Capital, will become Chairman of the Board of Directors effective today.
The transaction was led by MOZAYYX with participation from Founders Fund, Pantera, FalconX, Republic Digital, Kraken, Galaxy Digital, DCG, Diametric Capital, Occam Crest Management, and Thomas Lee.
Upon the closing of the Private Placement, BitMine will advance its treasury strategy on Ethereum.
BitMine Immersion continues to enhance its asset-light and mining business by increasing its existing treasury holdings by over 16x.
The transaction was led by MOZAYYX with participation from a high quality group of investors including Founders Fund, Pantera, FalconX, Republic Digital, Kraken, Galaxy Digital, DCG, Diametric Capital, Occam Crest Management, and Thomas Lee.
The closing of the offering is expected to occur on or about July 3, 2025, subject to the satisfaction of customary closing conditions, including without limitation, the authorization of the Supplemental Listing Application by the NYSE American. The Company intends to use the net proceeds of the offering to acquire the native cryptocurrency of Ethereum blockchain commonly referred to as "ETH" and contribute the ETH to the Company's treasury operations. ETH will serve as the Company's primary treasury reserve asset.
Thomas Lee, newly appointed Chairman of the Board of Directors, said, "This transaction includes the highest quality investors across trad-fi and crypto venture capital, properly reflecting the rapid and continued convergence of traditional financial services and crypto."
Proceeds from the private placement enable the Company to adopt Ethereum (ETH) as its primary treasury reserve asset, while continuing its focus on the core business operations. ETH is the native layer of the Ethereum blockchain. A differentiating feature of Ethereum is the enabling of smart contracts and the majority of stablecoin payments, tokenized assets, and decentralized financial applications are transacted on Ethereum. By having a direct ETH treasury position, the Company has access to native protocol-level activities, such as staking and decentralized finance mechanisms, on the Ethereum network.
Thomas Lee, Chairman of BitMine, states, "Stablecoins have proven to be the 'chatGPT' of crypto, leading to rapid adoption by consumers, merchants and financial services providers. Treasury Secretary, Scott Bessent, recently stated the stablecoin market could reasonably reach
Jonathan Bates, CEO of BitMine, said, "The private placement will accelerate BitMine's treasury holdings shortly after its first treasury purchase on June 9, 2025. FalconX, Kraken, and Galaxy Digital plan to partner with the Company to grow a world class Ethereum treasury strategy alongside existing custody partners, BitGo and Fidelity Digital."
ThinkEquity, LLC acted as the placement agent in connection with the private placement.
Cantor Fitzgerald & Co. acted as advisor to the lead investor, MOZAYYX.
Winston & Strawn LLP acted as counsel to the lead investor, MOZAYYX.
FitzGerald Kreditor Bolduc Risbrough LLP acted as counsel to the Company.
Greenberg Traurig, LLP acted as counsel to the placement agent.
The offer and sale of the foregoing securities were made in a private placement in reliance on an exemption from the registration requirement of the Securities Act of 1933, as amended (the "Securities Act"), pursuant to Section 4(a)(2) of the Securities Act and/or Regulation D promulgated thereunder, and applicable state securities laws. Accordingly, the securities offered in the private placement may not be offered or sold in
This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.
About BitMine
BitMine is a Bitcoin and Ethereum Network Company with a focus on the accumulation of Crypto for long term investment, whether acquired by our Bitcoin mining operations or from the proceeds of capital raising transactions. Company business lines include Bitcoin mining, synthetic Bitcoin mining through involvement in Bitcoin mining, hashrate as a financial product, offering advisory and mining services to companies interested in earning Bitcoin denominated revenues, and general Bitcoin advisory to public companies. BitMine's operations are located in low-cost energy regions in
Forward Looking Statements
This press release contains statements that constitute "forward-looking statements." The statements in this press release that are not purely historical are forward-looking statements which involve risks and uncertainties. This document specifically contains forward-looking statements regarding the potential benefits of the uses of proceeds of the Company's recent offering and future business plans. In evaluating these forward-looking statements, you should consider various factors, including BitMine's ability to keep pace with new technology and changing market needs; BitMine's ability to finance its current business and proposed future business; the competitive environment of BitMine's business; and the future value of Bitcoin and Ethereum. Actual future performance outcomes and results may differ materially from those expressed in forward-looking statements. Forward-looking statements are subject to numerous conditions, many of which are beyond BitMine's control, including those set forth in the Risk Factors section of BitMine's Form 10-K filed with the Securities and Exchange Commission (the "SEC") on April 3, 2025, as well as all other SEC filings, as amended or updated from time to time. Copies of BitMine's filings with the SEC are available on the SEC's website at www.sec.gov. BitMine undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
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SOURCE BitMine Immersion Technologies, Inc.
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