According to CNBC, ChainCatcher reports that BitMine Immersion Technologies (US Stock Exchange Code: BMNR) has announced the completion of a large private placement financing of $250 million, issuing 55,555,556 shares at a price of $4.50 per share. The transaction was led by MOZAYYX, with participation from well-known investment institutions such as Founders Fund and Pantera, and is expected to be completed around July 3, 2025.
BitMine plans to use the raised funds primarily to increase its holdings of Ethereum (ETH), intending to make it a core reserve asset, while continuing to maintain its main Bitcoin mining business.
Thomas Lee, founder of Fundstrat and Chief Investment Officer of Fundstrat Capital, has immediately taken effect as the company's board chairman. This private placement is conducted under Section 4(a)(2) and/or Rule D of the Securities Act, with ThinkEquity, LLC serving as the placement agent.
