BitMine Immersion Technologies Expands $20 Billion #Ethereum Acquisition Plan, Targeting 5% of #ETH Supply

Delaware-based crypto mining and Ethereum treasury giant #BitMine Immersion Technologies (NYSE American: BMNR) has shocked the digital asset market with a massive expansion of its at-the-market equity offering to $24.5 billion — a move that could reshape Ethereum’s liquidity, price discovery, and corporate adoption narrative.

The U.S. Securities and Exchange Commission (SEC) filing marks one of the largest equity raise expansions ever recorded in the cryptocurrency sector, boosting BitMine’s potential capital pool by $20 billion over its prior limit. Much of the new funding is expected to be channeled directly into Ethereum (ETH) acquisitions, potentially positioning BitMine as one of the most influential players in the market.

From $2 Billion to $24.5 Billion: A Rapid Expansion

BitMine’s journey to this unprecedented raise began on July 9, when it announced a $2 billion offering through Cantor Fitzgerald and ThinkEquity. That figure was increased to $4.5 billion just two weeks later, before today’s fivefold expansion.

Under the updated plan:

Cantor Fitzgerald will act as the sole designated sales agent.

BitMine will pay up to a 3% commission on gross proceeds.

Sales will occur via an at-the-market offering, giving the firm flexibility to deploy funds strategically.

Ethereum Remains the Strategic Core

While the SEC filing allows for potential Bitcoin purchases and expansion of mining and consulting operations, BitMine’s focus is clear — Ethereum is the prize.

Between July 9 and July 25, BitMine acquired 566,776 $ETH (worth $2.03 billion at the time) in just 16 days. By the end of July, its holdings exceeded 625,000 ETH ($2.3 billion). As of now, BitMine holds over 1.2 million ETH, worth approximately $5 billion, making it the largest corporate Ethereum holder in the world.

read more 24crypto news