US-listed BitMine Raises $250 Million to Increase ETH Holdings as Core Reserve Asset

According to ChainCatcher, CNBC reports that BitMine Immersion Technologies (NYSE: BMNR) has announced the completion of a substantial private placement, raising $250 million through the issuance of 55,555,556 shares at $4.50 per share. The round was led by MOZAYYX, with participation from prominent investment firms such as Founders Fund and Pantera. The transaction is expected to close around July 3, 2025.

BitMine plans to use the funds primarily to increase its holdings of Ethereum (ETH), aiming to make it a core reserve asset, while continuing to focus on its main business of Bitcoin mining.

Thomas Lee, founder and Chief Investment Officer of Fundstrat Capital, has been appointed Chairman of the Board of Directors with immediate effect. This private placement was conducted pursuant to Section 4(a)(2) and/or Regulation D of the Securities Act, with ThinkEquity, LLC serving as the placement agent.