Mentioned:
A publicly traded company on the New York Stock Exchange is going all in on Ethereum. And some of the biggest crypto investors in the world are backing them.
What’s happening:
- BitMine Immersion Technologies (NYSE: BMNR) has successfully raised $250M USD through an equity financing round for the sole purpose of accumulating Ethereum to hold directly as an asset
- The new funding round was led MOZAYX and included notable participation from Pantera and Peter Thiel’s Founders Fund
By the numbers:
- BitMine Immersion Technologies issued 55.5M common shares at $4.50 USD per share as part of financing round
Why it matters:
- Multiple other prominent crypto investors also participated in the round, including Galaxy Digital (NASDAQ: GLXY), Kraken and Digital Currency Group
Going deeper:
- BitMine Immersion Technologies just recently made their debut on the New York Stock Exchange with an $18M USD financing, after previously being listed on the OTCQX
- Ethereum accumulation has continued to make waves in the traditional public markets, with Sharplink Gaming (NASDAQ: SBET) raising $425M USD to begin purchasing Ethereum and Bit Digital (NASDAQ: BTBT) just recently deciding to exit their existing Bitcoin mining operations to go all in on buying and holding Ethereum
The intrigue:
- Founder of Fundstrat Thomas Lee also participated in the new equity raise and is joining BitMine Immersion Technologies as their new Chairman
