BlockBeats News, September 22, according to official sources, BitMine Immersion Technologies (BMNR) announced today that it has entered into a securities purchase agreement with an institutional investor to sell 5,217,715 shares of common stock at a price of $70.00 per share through a registered direct offering and grant warrants to purchase up to 10,435,430 shares of common stock (with an exercise price of $87.50 per share).
Before deducting underwriting discounts and other estimated offering expenses, the company expects to raise approximately $3.6524 billion in gross proceeds from this offering. If all warrants are exercised for cash, the potential future total proceeds would be approximately $9.13 billion. The combined total proceeds from the common stock offering and warrant cash exercise could reach around $12.8 billion.
BitMine’s Chairman, Tom Lee, stated: “BitMine issued shares at a 14% premium to last Friday’s closing price to raise $3.6524 billion at $70 per share (compared to a closing price of $61.29 per share), with the primary use of funds being to increase ETH holdings, which is substantially accretive to existing shareholders. This 14% premium not only reflects institutional investors’ strong interest in the BitMine story but also demonstrates confidence in the company’s execution. Institutional feedback indicates that BitMine remains the only U.S. large-cap stock that allows investors to directly invest in Ethereum.”
This offering is expected to be completed around September 23, 2025, subject to customary closing conditions. Moelis & Company LLC is serving as the exclusive placement agent, and Winston & Strawn LLP is acting as BitMine’s legal counsel.
