Bitcoin miner Bitmine Immersion Technologies has obtained a private location of $250 million to start its Ethereum Treasury.
Bitmine bought and sold 55,555,556 shares of common stock at a price of $4.50 per share, generating approximately $250 million in total revenue. announcement.
Mozayyx led the pay raise, with participation from Founders Fund, Pantera, Falconx, Republic Digital, Kraken, Galaxy Digital, DCG, DIMMETRIC Capital, Occam Crest Management and Thomas Lee. The transaction is expected to end on Thursday, provided it meets the authorization of the NYSE American, the NYSE.
Thomas Lee, Chairman of Bitmineeth) Thanks for their adoption. “Ethereum is the blockchain (…) where most Stablecoin payments are traded, so ETH should benefit from this growth,” he said.
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Company Ethereum Treasury is rising
Bitmine’s announcement comes after a series of latest moves by publicly traded companies to build ELAN-centric Treasury bonds. A few weeks ago, sports betting platform Sharplink Games Received 176,271 Ether for $463 million. This makes the company the largest ETH public transaction holder in the world.
The announcement follows Sharplink’s launch of the Ether Treasury Department in late May. The company also nominates Ethereum co-founder Joseph Lubin serves as chairman its board of directors.
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By this announcement, Bitcoin (Bitmine) and Bitcoin (BTC) With the logo as the theme, it rotates at least partly to Ethereum. Until this month, the company’s treasury strategy focused on accumulating bitcoin.
“Bitmine is a Bitcoin and Ethereum network company with a focus on long-term investment in cryptocurrencies,” the company wrote in the description in the announcement. BitcoinReasuries.net data It shows that Bitmine currently has 154 BTC worth about $17 million, making it the 62nd largest company in the Bitcoin Treasury Department.
Bitmine does not make pivots alone. last week, Bit Digital’s shares fell nearly 4% Crypto mining companies announced that they will reduce or sell their Bitcoin mining infrastructure and use the proceeds to buy more Ether. Then share It dropped nearly 19% in five days – Shortly thereafter, it dropped by 15% in 24 hours.
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