Mentioned:
There’s a new Bitcoin mining company making their New York Stock Exchange debut. And they’re aiming to accumulate as much Bitcoin as possible.
What’s happening:
- BitMine Immersion Technologies (NYSE: BMNR) has announced they are raising $18M USD in a new equity financing round as part of their listing on the New York Stock Exchange
Why it matters:
- BitMine Immersion Technologies was previously listed on the OTCQX and this is the first time in the history of the company that they have been approved for trading on a major stock exchange in the United States
Going deeper:
- BitMine Immersion Technologies is focused on accumulating Bitcoin through their Bitcoin mining operations, buying Bitcoin directly to hold as an asset as well as trading financial products related to Bitcoin mining’s hashrate
- Currently, BitMine Immersion Technologies is operating Bitcoin mining facilities in Trinidad and Texas
The intrigue:
- BitMine Immersion Technologies has publicly stated they plan to use all of the new capital from their equity financing round to purchase Bitcoin to hold directly as an asset
