Bitmine -Sinking Technologies (BMNR) has secured $ 250 million via a private placement of joint stock and will use the funds to launch an ether
Treasury.
When the agreement closes, expected on July 3, the Las Vegas-based mines said it will rank among the largest publicly traded holders of ETH.
The financing, which is priced at $ 4.50 per year. Share, total investors, including Founders Fund, Pantera Capital, Kraken, Galaxy Digital and Republic. Cantor Fitzgerald advised main investor Mozayyx while Thinkequity placed the deal.
Bitmine justified her choice of ether as a primary reserve asset that says Ethereum is currently leading in stableecoin payments, tokenized assets and decentralized financial applications.
“By having a direct ETH Treasury position, the company has access to native protocol level activities, such as efforts and decentralized financing mechanisms, at the Ethereum network,” the company wrote.
The move also transforms Bitmin’s leadership. Fundstrat -Founding Thomas Lee, long known on Wall Street for his crypto research and bullishness, was recently appointed chairman of the board.
Lee said the round reflects “the fast and continued convergence of traditional financial services and crypto” and set a new key performance metration for the company: Ether per. Stock.
Sharplink gaming (Sbet) is one of the few other listed companies that create and Etherkammer after he recently increased it to 188,478 ETH. Most other companies that create crypto -state boxes focus on Bitcoin
.
Bitmin’s shares are more than tripled in Premarket actions for nearly $ 14.
