BitMine, a Bitcoin and Ethereum Network Company, has secured $250 million in funding from high-quality investors including MOZAYYX, Founders Fund, Pantera, and others. The company will use the funds to acquire its native cryptocurrency, ETH, and contribute it to its treasury operations.
The transaction was led by MOZAYYX, with participation from a group of prominent investors. Thomas Lee, newly appointed Chairman of the Board of Directors, stated that the funding will enable BitMine to adopt Ethereum as its primary treasury reserve asset, providing access to native protocol-level activities such as staking and decentralized finance mechanisms.
The company plans to use the funds to increase its existing treasury holdings by over 16x. Jonathan Bates, CEO of BitMine, said that the private placement will accelerate the company’s treasury holdings shortly after its first treasury purchase on June 9, 2025.
BitMine aims to differentiate itself through its focus on Ethereum and increasing its ETH holdings per share. The company plans to partner with investors such as FalconX, Kraken, and Galaxy Digital to grow a world-class Ethereum treasury strategy alongside existing custody partners like BitGo and Fidelity Digital.
The funding is expected to occur on or about July 3, 2025, subject to customary closing conditions. BitMine’s treasury reserve asset will be the native cryptocurrency of the Ethereum blockchain, ETH.
Source: https://www.prnewswire.com/news-releases/bitmine-immersion-technologies-announces-250-million-private-placement-to-initiate-ethereum-treasury-strategy-expected-to-become-one-of-the-largest-publicly-traded-eth-holders-302494355.html