Techub News reports that Bitcoin mining company BitMine has announced pricing and signed a private placement agreement to purchase and sell 55,555,556 shares of common stock (or equivalent common stock alternatives) at a price of $4.50 per share, with expected total proceeds of approximately $250 million, net of placement agent fees and other issuance expenses (funded through a combination of cash and cryptocurrency), to implement its Ethereum financial strategy. This transaction is led by MOZAYYX, with participation from investors such as Founders Fund, Pantera, FalconX, Republic Digital, Kraken, Galaxy Digital, DCG, Diametric Capital, Occam Crest Management, and Thomas Lee.
This issuance is expected to be completed around July 3, 2025, but is subject to customary closing conditions, including, but not limited to, the approval of the supplemental listing application by the New York Stock Exchange American. The company plans to use the net proceeds from this issuance to acquire Ethereum and deploy ETH into the company's financial operations. ETH will serve as the company's primary financial reserve asset.
