BitMine Immersion Technologies Inc. has announced a $250 million private placement aimed at implementing an Ethereum treasury strategy. The transaction involves the purchase and sale of 55,555,556 shares of common stock at a price of $4.50 per share. Led by MOZAYYX, the deal includes participation from prominent investors such as Founders Fund, Pantera, FalconX, Republic Digital, Kraken, Galaxy Digital, DCG, Diametric Capital, Occam Crest Management, and Thomas Lee. The private placement is expected to position BitMine as one of the largest publicly traded Ethereum holders. Thomas Lee, Founder of Fundstrat and CIO of Fundstrat Capital, has been appointed Chairman of the Board of Directors. FalconX, Kraken, and Galaxy Digital plan to collaborate with BitMine to develop a leading Ethereum treasury strategy, alongside custody partners BitGo and Fidelity Digital.
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