BitMine plans to raise US$365 million to continue to increase its holdings in ETH

According to Foresight News, BitMine (BMNR) announced a securities purchase agreement with an institutional investor to issue 5,217,715 shares of common shares directly through registration and grant warrants subscribed to up to 10,435,430 shares of common shares (exercise price of $87.50 per share). Before deducting the allotment agency fees and other estimated issuance fees, the company expects the total revenue of this issuance to be approximately US$365.24 million. If all warrants are exercised in cash, the potential future total revenue will be approximately US$913 million. The total total income of the issuance of common stock and the exercise of cash in warrants can reach approximately US$1.28 billion.

BitMine Chairman Tom Lee said: "BitMine issued shares at a premium of 14% from last Friday's closing price to raise $365.24 million, selling shares at $70 per share (compared to the closing price of $61.29), and the main purpose of the funds is to increase ETH, which has substantial value-added significance for existing shareholders. The 14% premium not only reflects the strong interest of institutional investors in the BitMine story, but also reflects confidence in the company's execution. Institutional investors report that BitMine is still the only U.S. large-cap stock that allows investors to directly invest in Ethereum." The issuance is expected to be completed around September 23, 2025, and conventional delivery conditions must be met. Moelis & Company LLC serves as the exclusive placement agent and Winston & Strawn LLP serves as BitMine legal counsel.

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