Bitcoin Miner Bitmin Immersion Technologies obtained a private placement of $ 250 million to relaunch its Treasure Ether.
Bitmine has signed a private placement for the purchase and sale of 55,555,556 ordinary shares for $ 4.50 per share, which gives a gross product of approximately $ 250 million before spending, said the company on Monday announcement.
Mozayyx has revived, with the participation of Founders Fund, Pantera, Falconx, Digital Republic, Kraken, Galaxy Digital, DCG, Diametric Capital, Occam Crest Management and Thomas Lee. The transaction should end on Thursday, provided that the conditions, including the authorization of the additional quotation request by the American NYSE, are fulfilled.
Thomas Lee, president of Bitmin, said that the stablecoins are “the” chatgpt “of the crypto” and that he expects Ether (ETH) to appreciate thanks to their adoption. “Ethereum is the blockchain where the majority of Stablecoin payments are treated (…) and therefore, the ETH should benefit from this growth,” he said.
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Ethereum treasury bills are increasing
Bitmine’s announcement follows a series of recent measures from listed companies to establish ETH treasure bills. A few weeks ago, the Sharplink Gaming sports betting platform acquired 176,271 ether for $ 463 million. This has made the company the largest holder in the Eth on the stock market.
The announcement follows the launch by Sharplink by his Treasury Ether at the end of May. The firm also appointed the co-founder of Ethereum, Joseph Lubin, the president of his board of directors.
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With this announcement, Bitmin, with its logo on the theme of Bitcoin (BTC), made at least partially pivotal towards Ethereum. Until this month, the company’s treasure strategy focused on the accumulation of Bitcoin.
“Bitmin is a Bitcoin and Ethereum Network company by focusing on the accumulation of crypto for long -term investments,” said the company’s description in the ad. Bitcointheries.net data Indicates that Bitmin currently contains 154 BTC worth around 17 million dollars and is the 62nd Treasury Bitcoin de corporate.
Bitmin is not the only one to pivot. Last week, Bit Digital shares fell by almost 4% after the crypto extraction company announced that it would end or sell its Bitcoin extraction infrastructure and use the product to buy more ether. The shares then dropped almost 19% over five days – with a drop of 15% in 24 hours – shortly after.
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