BitMine Immersion Technologies Secures $250 Million Private Placement
Bitcoin miner BitMine Immersion Technologies has secured a $250 million private placement to initiate its strategic shift toward an Ethereum-focused treasury.
Funding Terms and Lead Investor
BitMine announced today raising $250 million (pre-expenses) through a private placement involving the sale of 55,555,556 shares at $4.50 per share. The investment group leading this funding round was MOZAYYX, alongside major participants including Founders Fund, Pantera Capital, FalconX, Republic Digital, Kraken, Galaxy Digital, DCG, Diametric Capital, Occam Crest Management, and Thomas Lee & Co.
The closing is anticipated shortly, contingent on regulatory approvals, notably the NYSE American’s acceptance of the Supplemental Listing Application.
Objectives and Strategic Rationale
Vision from Chairman Thomas Lee
Corporate Trend: Public Firms Increasingly Allocate to Ethereum Treasuries
BitMine’s initiative aligns BitMiners, traditionally focused on accumulating Bitcoin, squarely with a broader market trend of publicly listed crypto firms institutionalizing their treasury holdings in Ethereum assets. This follows recent significant Ethereum treasury announcements detailed below:
| Company | Date | Transaction | Significance |
|---|---|---|---|
| SharpLink Gaming | June X, 2025 | Aquisition of 176,271 ETH for $463m | Became the world’s largest publicly traded holder of ETH. |
