BitMine raises $250M in private placement for Ethereum treasury; Thomas Lee named Chairman

BITMINE IMMERSION TECHNOLOGIES, INC.

Priced private placement of 55.6M shares at $4.50 for ~$250M gross proceeds to acquire ETH as primary treasury reserve.
Thomas Lee, Founder of Fundstrat, appointed Chairman of the Board, replacing former CEO Jonathan Bates as Chair.
Investors include Founders Fund, Pantera, FalconX, Kraken, Galaxy Digital, DCG, and others; closing expected July 3, 2025.
Proceeds will increase existing ETH holdings by over 16x; ETH treasury strategy aims to benefit from stablecoin growth.

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