Bitmine immersion technologies (BMNR) obtained $ 250 million via a private placement of ordinary shares and will use funds to launch an ether
Treasury.
When the agreement ends, expected on July 3, the minor based in Las Vegas said that he would rank among the largest listed Ethors on the stock market.
The funding, at a price of $ 4.50 per share, brought together investors, notably Founders Fund, Pantera Capital, Kraken, Galaxy Digital and Republic. Cantor Fitzgerald advised the main investor Mozayyx, while Thinkequity placed the agreement.
Bitmin justified his choice of ether as a primary reserve property claiming that Ethereum is currently leading to Stablecoin payments, tokenized assets and decentralized financial applications.
“By having a Direct ETH Cash post, the company has access to activities at the native protocol, such as decentralized financing and financing mechanisms, on the Ethereum network,” wrote the company.
This decision also reshapes Bitmine leadership. The founder of Fustratt, Thomas Lee, known for a long time on Wall Street for his research in cryptography and his rise, was newly appointed Chairman of the Board of Directors.
Lee said the Tour reflects “the rapid and continuous convergence of traditional financial services and crypto” and has established a new key performance measure for the company: Action by action.
Gaming Sharplink (Sbet) is one of the few other companies listed on the stock market at the Creation and Au Trésor Ether, having recently brought it to 188,478 ETH. Most other companies creating cryptographic treasury vouchers focus on bitcoin
.
Bitmine’s actions have more than tripled in pre-market action at nearly $ 14.
