BitMine Raises $250M to Transform into Major Ethereum Player, Tom Lee Joins as Chairman
July 9, 2025
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BitMine Immersion Technologies (NYSE AMERICAN: BMNR) has successfully closed a significant $250 million private placement to implement its Ethereum treasury strategy. The funding round was led by MOZAYYX with participation from notable investors including Founders Fund, Pantera, Kraken, and Galaxy Digital.
The company plans to use the proceeds to purchase ETH as its primary treasury reserve asset, enabling participation in protocol-level activities such as staking and DeFi mechanisms. Thomas “Tom” Lee, newly appointed Chairman of BitMine’s Board of Directors, emphasized the company’s strategy to increase ETH held per share and accumulate a larger supply of ETH through cash flow reinvestment and capital markets activities.
BitMine Immersion Technologies (NYSE AMERICAN: BMNR) ha completato con successo un importante private placement da 250 milioni di dollari per attuare la sua strategia di tesoreria in Ethereum. Il round di finanziamento è stato guidato da MOZAYYX con la partecipazione di investitori di rilievo come Founders Fund, Pantera, Kraken e Galaxy Digital.
L’azienda intende utilizzare i fondi raccolti per acquistare ETH come principale riserva di tesoreria, permettendo così di partecipare ad attività a livello di protocollo come lo staking e i meccanismi DeFi. Thomas “Tom” Lee, recentemente nominato Presidente del Consiglio di Amministrazione di BitMine, ha sottolineato la strategia aziendale volta ad aumentare la quantità di ETH detenuta per azione e ad accumulare una maggiore riserva di ETH tramite il reinvestimento dei flussi di cassa e le attività nei mercati finanziari.
BitMine Immersion Technologies (NYSE AMERICAN: BMNR) ha cerrado con éxito una importante colocación privada de 250 millones de dólares para implementar su estrategia de tesorería en Ethereum. La ronda de financiación fue liderada por MOZAYYX con la participación de inversores destacados como Founders Fund, Pantera, Kraken y Galaxy Digital.
La compañía planea usar los fondos para comprar ETH como su principal activo de reserva en tesorería, lo que le permitirá participar en actividades a nivel de protocolo como staking y mecanismos DeFi. Thomas “Tom” Lee, recientemente nombrado presidente del consejo de administración de BitMine, destacó la estrategia de la empresa para aumentar la cantidad de ETH poseída por acción y acumular una mayor reserva de ETH mediante la reinversión del flujo de caja y actividades en los mercados de capital.
BitMine Immersion Technologies (NYSE AMERICAN: BMNR)는 이더리움 재무 전략을 실행하기 위해 2억 5천만 달러 규모의 사모펀딩을 성공적으로 마감했습니다. 이번 자금 조달 라운드는 MOZAYYX가 주도했으며 Founders Fund, Pantera, Kraken, Galaxy Digital 등 주요 투자자들이 참여했습니다.
회사는 조달한 자금을 ETH를 주요 재무 준비 자산으로 구매하는 데 사용할 계획이며, 이를 통해 스테이킹과 디파이(DeFi) 메커니즘 같은 프로토콜 수준 활동에 참여할 수 있게 됩니다. 최근 BitMine 이사회 의장으로 임명된 토마스 “톰” 리는 주당 보유 ETH를 늘리고 현금 흐름 재투자 및 자본 시장 활동을 통해 더 많은 ETH를 축적하는 회사의 전략을 강조했습니다.
BitMine Immersion Technologies (NYSE AMERICAN : BMNR) a réussi à clôturer un important placement privé de 250 millions de dollars pour mettre en œuvre sa stratégie de trésorerie en Ethereum. Le tour de financement a été mené par MOZAYYX, avec la participation d’investisseurs notables tels que Founders Fund, Pantera, Kraken et Galaxy Digital.
La société prévoit d’utiliser les fonds pour acheter des ETH en tant que principal actif de réserve de trésorerie, ce qui lui permettra de participer à des activités au niveau du protocole telles que le staking et les mécanismes DeFi. Thomas “Tom” Lee, récemment nommé président du conseil d’administration de BitMine, a souligné la stratégie de l’entreprise visant à augmenter la quantité d’ETH détenue par action et à accumuler une réserve plus importante d’ETH grâce à la réinvestissement des flux de trésorerie et aux activités sur les marchés financiers.
BitMine Immersion Technologies (NYSE AMERICAN: BMNR) hat erfolgreich eine bedeutende Private Placement in Höhe von 250 Millionen US-Dollar abgeschlossen, um seine Ethereum-Treasury-Strategie umzusetzen. Die Finanzierungsrunde wurde von MOZAYYX angeführt, mit Beteiligung namhafter Investoren wie Founders Fund, Pantera, Kraken und Galaxy Digital.
Das Unternehmen plant, die Erlöse zu verwenden, um ETH als primären Treasury-Reservevermögenswert zu erwerben, was die Teilnahme an Protokollaktivitäten wie Staking und DeFi-Mechanismen ermöglicht. Thomas “Tom” Lee, der neu ernannte Vorsitzende des Vorstands von BitMine, betonte die Strategie des Unternehmens, die pro Aktie gehaltene ETH-Menge zu erhöhen und durch Reinvestition von Cashflows sowie Aktivitäten an den Kapitalmärkten einen größeren ETH-Bestand aufzubauen.
Positive
- Secured substantial $250 million private placement funding
- Strategic positioning to benefit from projected $2 trillion stablecoin market growth
- Potential for additional revenue through ETH staking and DeFi mechanisms
- Appointment of renowned market expert Thomas Lee as Board Chairman
Negative
- Significant exposure to cryptocurrency market volatility through ETH holdings
- Regulatory uncertainties surrounding cryptocurrency investments
- Dilution of existing shareholders through private placement
Insights
BitMine’s $250M private placement to acquire Ethereum as treasury reserve marks significant strategic pivot with potential yield-generating opportunities.
BitMine has secured a substantial $250 million private placement to implement an Ethereum treasury strategy, representing a fundamental shift in the company’s financial approach. This capital raise, backed by prominent crypto investors including Founders Fund, Pantera, and Galaxy Digital, enables BitMine to adopt ETH as its primary treasury reserve asset rather than traditional currencies.
The strategic rationale hinges on multiple value drivers. First, by accumulating and staking ETH, BitMine gains access to protocol-level yield opportunities while potentially benefiting from ETH price appreciation. Second, the company aims to measure performance through ETH held per share, suggesting a focus on increasing shareholder value through ETH accumulation rather than traditional financial metrics.
The strategy connects to broader Ethereum ecosystem dynamics. As the primary blockchain hosting stablecoins and DeFi applications, Ethereum could benefit from Treasury Secretary Scott Bessent’s projection of stablecoin market growth to $2 trillion. BitMine’s approach creates what their chairman describes as a “self-reinforcing cycle” – their ETH staking contributes to network security, potentially attracting institutional capital and on-chain assets, which could drive demand for ETH and enhance the value of their staked position.
The deal structure involved both cash and crypto contributions, with several institutional investors participating alongside new board chairman Thomas “Tom” Lee, founder of Fundstrat. This hybrid funding approach demonstrates sophisticated capital market engagement and institutional comfort with crypto-related investments in public companies.
Proceeds from the private placement enable the Company to adopt Ethereum (ETH) as its primary treasury reserve asset
Private placement funded in a combination of cash and crypto
Company’s Ethereum treasury strategy to strengthen broader Ethereum ecosystem
LAS VEGAS, July 9, 2025 /PRNewswire/ — (NYSE AMERICAN: BMNR) (“BitMine” or the “Company”) today announced the closing of the previously announced $250,000,000 private placement, funded in a combination of cash and crypto, to help BitMine implement its Ethereum treasury strategy. 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, Graticule (GAMA), GSR, and Thomas “Tom” Lee.
This announcement marks a critical milestone in BitMine’s strategy. BitMine intends to use the net proceeds to purchase ETH to enable the Company to adopt ETH as its primary treasury reserve asset, while continuing its 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 will have access to native protocol-level activities, such as staking and decentralized finance mechanisms, on the Ethereum network. Stablecoins have been rapidly adopted by consumers, merchants, and financial services providers, a trend underscored by Treasury Secretary Scott Bessent’s recent comment that the stablecoin market could reasonably grow to $2 trillion. As the primary blockchain for stablecoin transactions, BitMine believes Ethereum is well-positioned to potentially benefit from this growth.
“One key performance metric for BitMine going forward will be increasing ETH held per share and also driving reflexive benefits by accumulating a larger share of the supply of ETH,” said Thomas “Tom” Lee, newly appointed Chairman of BitMine’s Board of Directors. “We believe this can be achieved through a combination of reinvestment of the Company’s cash flows, capital markets activities, and by the change in value of ETH. This marks the foundational step in the Company’s Ethereum treasury strategy, and we’re excited to help strengthen the broader Ethereum ecosystem. There’s a powerful, self-reinforcing cycle at play: by securing and staking a growing share of ETH, we contribute to Ethereum’s economic security, which can bring institutional capital and real-world assets on-chain. That can, in turn, drive greater activity, increase demand for ETH, which ultimately, we expect to enhance the value of our staked position.”
“We look forward to building a world–class ETH treasury and executing a strategy intended to materially enhance the returns for shareholders,” said Jonathan Bates, CEO of BitMine. “As our new chairman, Tom’s renowned insight and market expertise as founder of Fundstrat will be invaluable as we scale our ETH treasury and transform BitMine into a category-defining digital asset platform.”
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 the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirement of the Securities Act and such applicable state securities laws. Concurrently with the execution of the securities purchase agreements, the Company and the investors entered into a registration rights agreement pursuant to which the Company has agreed to file a registration statement with the Securities and Exchange Commission (the “SEC”) registering the resale of the shares of common stock to be issued or issuable in connection with the offering.
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 BitMineBitMine 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 Trinidad; Pecos, Texas; and Silverton, Texas.
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.
FAQ
What is the size of BitMine’s (BMNR) recent private placement funding?
BitMine secured a $250 million private placement funded through a combination of cash and crypto, led by MOZAYYX with participation from notable investors including Founders Fund and Pantera.
How will BitMine (BMNR) use the private placement proceeds?
BitMine will use the proceeds to purchase Ethereum (ETH) as its primary treasury reserve asset and enable participation in protocol-level activities such as staking and DeFi mechanisms.
Who are the major investors in BitMine’s (BMNR) private placement?
The private placement was led by MOZAYYX with participation from notable investors including Founders Fund, Pantera, FalconX, Republic Digital, Kraken, Galaxy Digital, DCG, and others.
Who is the new Chairman of BitMine’s (BMNR) Board of Directors?
Thomas “Tom” Lee, founder of Fundstrat, has been appointed as the new Chairman of BitMine’s Board of Directors.
What is BitMine’s (BMNR) strategy for Ethereum holdings?
BitMine aims to increase ETH held per share through cash flow reinvestment, capital markets activities, and ETH value appreciation, while participating in staking and contributing to Ethereum’s economic security.
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