Quick take:
The new funds will be used to start a new digital asset treasury focused on acquiring ether (ETH).
MOZAYYX led the round with participation from Founders Fund, Pantera, FalconX, Republic Digital, Kraken, Galaxy Digital, DCG, Diametric Capital and Occam Crest Management.
The ETH treasury gives the company access to native protocol-level activities, such as staking and decentralised finance mechanisms, on the Ethereum network.
BitMine Immersion Technologies (NYSE AMERICAN: BMNR) has announced a private placement plan to raise $25 million. The company said on Monday that it has already signed the agreement for the purchase and sale of 55,555,556 shares of common stock at $4.50 per share, which will be used to launch a new digital asset treasury focused on acquiring ether (ETH).
MOZAYYX led the round with participation from Founders Fund, Pantera, FalconX, Republic Digital, Kraken, Galaxy Digital, DCG, Diametric Capital and Occam Crest Management. Thomas Lee, the chairman of BitMine, joined as an angel investor.
Commenting on a press release seen by NFTgators, BitMine said the ETH treasury gives the company access to native protocol-level activities, such as staking and decentralised finance mechanisms, on the Ethereum network.
“This transaction includes the highest quality investors across trad-fi and crypto venture capital, properly reflecting the rapid and continued convergence of traditional financial services and crypto,” Lee, who was recently appointed Chairman of the board of directors at BitMine, said in a statement.
Jonathan Bates, CEO of BitMine, commented: “The private placement will accelerate BitMine’s treasury holdings shortly after its first treasury purchase on June 9, 2025. FalconX, Kraken, and Galaxy Digital plan to partner with the Company to grow a world-class Ethereum treasury strategy alongside existing custody partners, BitGo and Fidelity Digital.”
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The post BitMine Immersion Doubles Down on Digital Asset Strategy with $250M Private Placement appeared first on NFTgators .
