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BitMine Raises $250M To Launch Ethereum Corporate Treasury Authored by Adrian Zmudzinski via CoinTelegraph.com, Bitcoin miner BitMine Immersion Technologies has secured a $250 million private placement to jumpstart its Ether treasury. BitMine signed a private placement for the purchase and sale of 55,555,556 shares of common stock for $4.50 per share, yielding gross proceeds of approximately $250 million before expenses, the company said in a Monday announcement. MOZAYYX led the raise, with participation from Founders Fund, Pantera, FalconX, Republic Digital, Kraken, Galaxy Digital, DCG, Diametric Capital, Occam Crest Management and Thomas Lee. The transaction is expected to close on Thursday, provided that conditions, including the authorization of the Supplemental Listing Application by the NYSE American, are met. Thomas Lee, chairman of BitMine, said that stablecoins are “the 'ChatGPT' of crypto” and that he expects Ether to appreciate thanks to their adoption. “Ethereum is the blo...