BitMine, an Ethereum treasury firm, has announced a securities subscription agreement with an institutional investor to raise approximately $365.24 million through a registered direct offering. The offering includes the sale of 5.22 million shares at $70 each and 10.4 million warrants with an exercise price of $87.50. If all warrants are exercised, the total proceeds could reach $1.28 billion. The offering is expected to close on September 23, 2025, pending customary conditions. BitMine currently holds over 2% of the ETH token supply, with assets totaling $11.4 billion.
BitMine to Raise $365 Million in Direct Offering, Potentially $1.28 Billion
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