BitMine Sets $70 Per Share for Direct Placement Worth $365.24 Million

BitMine Announces Significant Capital Raise

BitMine Immersion Technologies (BMNR), a leading Bitcoin and Ethereum networking company, has unveiled its plan to raise a substantial capital amount through a direct placement. Aiming for $365.24 million, the company will be pricing its direct share offering at $70 per share, which represents a notable 14% premium over its stock closing price from September 19, 2025. This strategic move highlights the growing interest in cryptocurrencies amid a resurgence in institutional investments.

The details of the placement include around 5.22 million shares of common stock and approximately 10.4 million warrants priced at an exercise price of $87.50. The warrants are set to be exercisable immediately upon issuance and will expire on March 22, 2027, providing additional incentives for investor engagement. The total proceeds from the direct offering, along with potential exercise from the warrants, can reach as high as approximately $1.28 billion, making it a significant financial maneuver in the crypto investment landscape.

Engagement with Institutional Investors

Leading this initiative, BitMine continues to garner support from a host of prominent institutional investors. Notable names backing the venture include Cathie Wood of ARK Invest, Bill Miller III, and the cryptocurrency investment giant Kraken. Their participation not only affirms confidence in BitMine's growth, but also showcases the increasing institutional appetite for exposure to Ethereum within a stable management framework.

Thomas Lee, the chairman of BitMine, commented on the offering, stating, "BitMine successfully raised $365.24 million by selling its shares at a premium over Friday's close, and the primary use of the proceeds will be to bolster our ETH holdings." He believes that this capital infusion is material for the existing shareholders and serves as a strong validation of institutional interest in BitMine’s story.

The Prospects for Ethereum

Lee emphasized the growing narrative among investors regarding Ethereum. He expressed, "Investors have indicated that BitMine remains the only large-cap American stock offering direct exposure to Ethereum. There’s a compelling supercycle forming for Ethereum as Wall Street adopts and builds on this blockchain technology, a sentiment echoed in our Augusta presidential message."

The anticipated closing date for this placement is around September 23, 2025, subject to relevant closing conditions being fulfilled. Moelis & Company LLC is acting as the exclusive placement agent for the offering, while Winston & Strawn LLP is providing legal counsel to BitMine.

Regulatory Framework and Future Steps

This placement aligns with a previously filed registration statement on Form S-3ASR, which obtained effectiveness by the Securities and Exchange Commission (SEC) on July 9, 2025. Interested investors are encouraged to read the accompanying prospectus and registration documents that are filed with the SEC to gain insight into BitMine and this offering.

To extensively grasp the expected gains and trajectories of both the Ethereum and Bitcoin networks, stakeholders should consider the broader context of the cryptocurrency market and the evolving technological landscape.

As BitMine gears up for this substantial capital raise, it continues its commitment to long-term investment in accumulating cryptocurrency, further enhancing its strategic positioning in the marketplace.

About BitMine

BitMine specializes in Bitcoin and Ethereum network operations and focuses on accumulating crypto for long-term investments. The company engages in Bitcoin mining activities while also applying its mining revenues towards transactions and investments—positioning itself strategically in low-energy cost regions across the United States, including Texas and Trinidad. As they advance further into the crypto space, watch for how effectively BitMine can capitalize on its vision and expand its holdings amidst a fluctuating market.

Conclusion

With the direct placement poised to raise crucial capital and investor interest sharply increasing, BitMine is well on its way to solidifying its position as a frontrunner in crypto accumulation. As investors watch closely, the outcome of this initiative may pave the way for future engagements within and beyond the crypto ecosystem.