The Bitcoin miner BitMine Immersion Technologies has secured a private placement of 250 million dollars to establish a reserve of Ether.
As announced today through a press release, BitMine has signed a private placement agreement for the sale of 55,555,556 ordinary shares at a price of 4.50 dollars per share, with a gross revenue of approximately 250 million dollars before expenses.
MOZAYYX led the fundraising, with participation from Founders Fund, Pantera, FalconX, Republic Digital, Kraken, Galaxy Digital, DCG, Diametric Capital, Occam Crest Management, and Thomas Lee. The transaction is expected to close on Thursday, provided that the requirements are met, including the approval of the application for additional listing by the NYSE American.
Thomas Lee, president of BitMine, reports that stablecoins are “the ‘ChatGPT’ of crypto” and that he expects an appreciation of Ether
ETH
2,209 €
due to their adoption. “Ethereum is the blockchain on which most payments in stablecoins are made [...] and therefore ETH should benefit from this growth,” he emphasizes.
