Tom Lee’s BitMine Sells Stock at $70 to Raise $365M for $ETH Treasury

In a major strategic move, Tom Lee’s BitMine has successfully raised $365 million through a stock sale priced at $70 per share. The funds will be directed towards building the company’s Ethereum (ETH) treasury, reinforcing BitMine’s strong commitment to the leading smart contract platform.

This development highlights two key points:

Institutional confidence in ETH: The treasury expansion underscores the growing role of Ethereum in future blockchain infrastructure.

Market signal: With traditional equity markets backing a crypto treasury strategy, it reflects rising institutional adoption of digital assets.

Analysts suggest that BitMine’s decision could spark further interest among large firms seeking to diversify holdings into Ethereum, potentially strengthening ETH’s long-term valuation.