BitMine Immersion Technologies announced the pricing and signing of a private placement for approximately $250 million in gross proceeds. This capital raise, funded in a combination of cash and cryptocurrencies, is intended to initiate an Ethereum treasury strategy.
The company plans to use the net proceeds from this offering to acquire Ethereum (ETH), which will serve as its primary treasury reserve asset. This marks a significant strategic pivot, expanding its digital asset focus beyond Bitcoin.
Concurrently, Thomas (Tom) Lee, Founder of Fundstrat and CIO of Fundstrat Capital, was appointed Chairman of BitMine's Board of Directors, effective today. The closing of the offering is expected to occur on or about July 3, 2025, subject to customary closing conditions.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.