BitMine Immersion Technologies Announces $250 Million Private Placement to Initiate Ethereum Treasury Strategy; Expected to Become One of the Largest Publicly Traded ETH Holders

Thomas (Tom) Lee, the Founder of Fundstrat and CIO of Fundstrat Capital, will become Chairman of the Board of Directors effective today. Proceeds from the private placement enable the Company to adopt Ethereum (ETH) as its primary treasury reserve asset, while continuing its focus on the core business operations. ETH is the native layer of the Ethereum blockchain. A differentiating feature of Ethereum is the enabling of smart contracts and the majority of stablecoin payments, tokenized assets, and decentral ...