Bitmine -Sinking Technologies (BMNR)President of Tom Lee said Monday that it is now controlling more than 2% of Ether’s supply and raised $ 365 million to expand its stocks.
The company announced this morning that its Treasury, which is valued at $ 11.4 billion from September 21, consists of 2,416,054 ETH to $ 4,497 per year. Token, 192 Bitcoin $ 345 million in cash and an equity share of $ 175 million in Eightco Holdings.
Bitmine described herself as the world’s largest public owner of Ether and the second largest crypto state box overall and only drew Michael Saylor’s strategy Inc. (Mstr).
Bitmine is chairman of Tom Lee, who is also the head of research at Fundstrat and Chief Investment Officer in Fundstrat Capital.
Lee said the company is pursuing what he calls “alchemy at 5%”, with the aim of accumulating 5% of the total ETH supply. “Wall Street and AI, who go into Blockchain, should lead to a greater transformation of today’s financial system. And most of this is taking place at Ethereum,” Lee said.
To raise funds to grow the treasury
A few hours later, Bitmine announced a Safe Circuit Agreement with an institutional investor covering 5.2 million shares of joint shares for $ 70 per year. Share – approx. 14% over its 19th September close – along with Warrants for up to 10.4 million additional shares for $ 87.50.
The offer is expected to collect $ 365 million in the gross proceeds, with Warrants potentially adding an additional $ 913 million, bringing the total potential proceeds to approx. $ 1.28 billion.
Lee said the primary use of funds would be to extend Bitmines ether Holdings and call the Premium pricing “Significantly Calculation” to existing shareholders.
Bitmine added that institutional demand reflects the growing interest in Ethereum as Wall Street integrates blockchain into financial infrastructure.
From 1 p.m. 11:13 A traded BMNR shares around $ 55.79, 9% down on the day, according to Google Finance.
