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Ether (ETH) Treasury News: BitMine Immersion Raises $250M
- Bit Digital, Inc. priced a $150 million offering of 75 million shares at $2.00 each to fund its shift to Ethereum staking.
- Following its recent $150 million share offering, the company plans to become a pure Ethereum staking and treasury firm, liquidating Bitcoin holdings to boost ETH reserves since 2022.
- Analysis reveals Bit Digital's reserves of 24,434 ETH and 417 BTC, valued at $44.6M and $34.5M; projected to reach 42,000 ETH worth $103M after conversion.
- Investors responded with nearly 19% weekly decline, including a 15% drop in one day, reflecting market skepticism over the company's strategic shift and fundraising efforts.
- Beyond the initial raise, the company plans to use proceeds to expand Ethereum holdings, gradually convert all Bitcoin to ETH, and grow staking operations.
24 Articles
24 Articles
The ‘MicroStrategy’ Of Ethereum Emerges: Tom Lee And Joe Lubin Raise $675M To Stack ETH - Overpasses For America
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing Strict editorial policy that focuses on accuracy, relevance, and impartiality Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. The ‘MicroStrategy’ of Ethereum has emerged, with Fu…
BitMine Stock Soars Over 45% After Tom Lee Named Chairman
Shares of BitMine Immersion Technologies surged more than 45% in Tuesday morning trading following the high-profile appointment of Tom Lee as chairman of its board of directors and the announcement of a bold $250 million pivot toward Ethereum. Lee, a prominent financial strategist and frequent contributor on CNBC’s Fast Money, Tech Check, Halftime Report, and Closing Bell, officially stepped into the chairman role on Monday. Known for his accura…
Bitcoin Miner Bit Digital Raises $150 Million to Pivot to Ethereum Staking_ Shares Fall 15%
In a major pivot, Bitcoin miner Bit Digital announced a strategic shift to Ethereum ETH $2 441 24h volatility: 0.2% Market cap: $294.89 B Vol. 24h: $13.45 B staking along with a $150 million public offering. The firm also announced that it had begun accumulating ETH back in 2022, after the blockchain transitioned to a proof-of-reserve network, and has been accumulating ETH
Can Fundstrat’s Tom Lee Make BitMine Immersion Stock the ‘MicroStrategy of Ethereum’? – EMEA Tribune – Latest News – Breaking News – World News
Ethereum coin by Amhnasim via Pixabay BitMine Immersion (BMNR) shares soared more than 500% on Monday after the crypto mining firm named Fundstrat’s head of […] Source
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