BitMine has completed a $250 million funding round to increase its ETH holdings as a core reserve asset

BlockBeats News, June 30th, according to CNBC, BitMine Immersion Technologies (NYSE: BMNR) announced the completion of a $250 million large-scale private placement, issuing 55,555,556 shares at a price of $4.50 per share. The transaction was led by MOZAYYX, with participation from Founders Fund, Pantera, and other well-known investment institutions, and is expected to be settled around July 3, 2025.

BitMine plans to use the raised funds primarily to increase its holdings of Ethereum (ETH) as a core reserve asset, while continuing to maintain its Bitcoin mining core business.

Thomas Lee, Founder of Fundstrat and Chief Investment Officer of Fundstrat Capital, has immediately taken on the role of Chairman of the Board. This private placement is conducted under Regulation D and/or Rule 4(a)(2) of the Securities Act, with ThinkEquity, LLC acting as the placement agent.