Bitmine immersion technologies (BMNR)Chaired by Tom Lee, said on Monday that he now controlled more than 2% of Ether’s offer and raised $ 365 million to extend his assets.
The company announced this morning that its treasure, worth $ 11.4 billion on September 21, consists of 2,416,054 ETH at $ 4,497 per token, 192 bitcoin $ 345 million in cash and a participation of $ 175 million in Eighco Holdings.
Bitmin described himself as the largest public holder of Ether in the world and the second largest cryptographic treasure as a whole, following only Michael Saylor’s Strategy Inc. (MSTR).
Bitmin is chaired by Tom Lee, who is also responsible for research at Fundstrat and investment director at Fundstrat Capital.
Lee said that the company continues what it calls “5% alchemy”, aimed at accumulating 5% of the total supply of ETH. “Wall Street and the AI moving on the blockchain should lead to greater transformation of the financial system today. And the majority of this takes place on Ethereum,” said Lee.
Raise funds to cultivate the treasure
A few hours later, Bitmin announced an agreement to buy securities with an institutional investor covering 5.2 million ordinary shares at $ 70 per share – approximately 14% above its September 19 fence – as well as mandates up to 10.4 million additional shares at $ 87.50.
The offer is expected to collect $ 365 million in gross product, the mandates potentially adding an additional $ 913 million, bringing a total potential product to around $ 1.28 billion.
Lee said that the main use of funds would be to extend the assets of Bitmine ether, qualifying the premium pricing of “materially accretive” to existing shareholders.
Bitmin added that institutional demand reflects an increasing interest in Ethereum while Wall Street integrates blockchain into financial infrastructure.
According to Google Finance, at 11:13 am, BMNR shares were negotiated about $ 55.79, down 9% over the day.
