BitMine Immersion Technologies announced a significant expansion of its stock sale capacity, outlining plans to raise up to $24.5 billion. This capital is earmarked to accelerate the company's Ethereum (ETH) acquisition strategy.
According to a supplementary prospectus filed with the U.S. Securities and Exchange Commission, the Ethereum treasury company increased the maximum total of common stock it may sell under its Controlled Equity Offering Sales Agreement. This total includes up to $2 billion previously authorized.
This substantial increase in potential capital raising underscores BitMine's aggressive pursuit of its goal to acquire a significant portion of the total ETH supply. It provides the company with considerable financial flexibility to continue its rapid accumulation of digital assets.
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