BitMine raises 250 million dollars to launch Ethereum corporate treasury

The Bitcoin mining company BitMine Immersion Technologies has raised 250 million USD from a private issuance to launch its Ether fund.

They signed an agreement to buy 55,555,556 common shares at a price of 4.50 USD per share. This fundraising round is led by MOZAYYX, with participation from several major funds such as Founders Fund and Pantera. Thomas Lee, the chairman of BitMine, believes that stablecoins are the "ChatGPT of cryptocurrency" and predicts that Ether (ETH) will increase in value due to their acceptance. This announcement comes amid a growing number of publicly listed companies establishing funds focused on ETH. BitMine currently holds 154 BTC worth approximately 17 million USD and is the 62nd largest corporate Bitcoin fund.

BitMine raises 250 million USD to launch Ethereum corporate treasury

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