Crypto Miner Bitmine Soars After $250M Ethereum Bet and Tom Lee Appointment
Shares of Bitmine Immersion Technologies (BMNR) have surged more than 1,000% following a bold three-part announcement that’s ignited investor excitementand speculation. The company revealed a $250 million private placement offering to fund an Ethereum treasury strategy, echoing the path taken by MicroStrategy with Bitcoin. The raise was led by MOZAYYX and included some of the most active players in crypto investing todayFounders Fund, Galaxy Digital, Kraken, Pantera, Republic Digital, DCG, and others. Bitmine intends to use the proceeds to build an Ethereum-heavy balance sheet, betting on the long-term value of the world’s second-largest blockchain.
At the same time, Bitmine named Tom Lee, the founder of Fundstrat and a…
