{"id":48858,"date":"2025-09-22T16:01:57","date_gmt":"2025-09-22T16:01:57","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=48858"},"modified":"2025-09-22T16:01:57","modified_gmt":"2025-09-22T16:01:57","slug":"tom-lees-bitmine-sells-stock-at-70-to-raise-additional-365m-for-eth-treasury","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=48858","title":{"rendered":"Tom Lee\u2019s BitMine Sells Stock at $70 to Raise Additional $365M for ETH Treasury"},"content":{"rendered":"<div>\n<p>BitMine Immersion Technologies (BMNR), chaired by Tom Lee, said Monday it now controls more than 2% of ether&#8217;s supply and raised $365 million to expand its holdings.<\/p>\n<p>The company <a href=\"https:\/\/www.prnewswire.co.uk\/news-releases\/bitmine-immersion-bmnr-announces-eth-holdings-exceed-2-of-ethereum-network-with-eth-holdings-exceeding-2-4-million-tokens-and-total-crypto-and-cash-holdings-of-11-4-billion-302562831.html\">announced<\/a> this morning that its treasury, valued at $11.4 billion as of Sept. 21, consists of 2,416,054 ETH at $4,497 per token, 192 bitcoin (BTC), $345 million in cash and a $175 million equity stake in Eightco Holdings. <\/p>\n<p>BitMine described itself as the world\u2019s largest public holder of ether and the second-largest crypto treasury overall, trailing only Michael Saylor\u2019s Strategy Inc. (MSTR).<\/p>\n<p>BitMine is chaired by Tom Lee, who is also head of research at Fundstrat and chief investment officer at Fundstrat Capital.<\/p>\n<p>Lee said the company is pursuing what he calls the \u201calchemy of 5%,\u201d aiming to accumulate 5% of the total ETH supply. \u201cWall Street and AI moving onto the blockchain should lead to a greater transformation of today\u2019s financial system. And the majority of this is taking place on Ethereum,\u201d Lee said.<\/p>\n<h3>Raising funds to grow the treasury<\/h3>\n<p>A few hours later, BitMine <a href=\"https:\/\/www.prnewswire.com\/in\/news-releases\/bitmine-immersion-bmnr-announces-pricing-of-365-24mm-registered-direct-offering-at-70-per-share-302562833.html\">announced<\/a> a securities purchase agreement with an institutional investor covering 5.2 million shares of common stock at $70 per share \u2014 about 14% above its Sept. 19 close \u2014 along with warrants for up to 10.4 million additional shares at $87.50.<\/p>\n<p>The offering is expected to raise $365 million in gross proceeds, with the warrants potentially adding another $913 million, bringing total potential proceeds to about $1.28 billion. <\/p>\n<p>Lee said the primary use of funds would be to expand BitMine\u2019s ether holdings, calling the premium pricing \u201cmaterially accretive\u201d to existing shareholders.<\/p>\n<p>BitMine added that institutional demand reflected growing interest in ethereum as Wall Street integrates blockchain into financial infrastructure.<\/p>\n<p>As of 11:13 a.m. ET, BMNR shares were trading around $55.79, down 9% on the day, according to Google Finance.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>BitMine Immersion Technologies (BMNR), chaired by Tom Lee, said Monday it now controls more than 2% of ether&#8217;s supply and raised $365 million to expand its holdings. The company announced this morning that its treasury, valued at $11.4 billion as of Sept. 21, consists of 2,416,054 ETH at $4,497 per token, 192 bitcoin (BTC), $345 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-48858","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/48858","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=48858"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/48858\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=48858"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=48858"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=48858"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}