Bitmine immersion technologies (BMNR)Chaired by Tom Lee, he said Monday that he now controls more than 2% of Ether’s supply and raised $ 365 million to expand his holdings.
The company announced this morning that its treasure, valued at $ 11.4 billion to September 21, consists of 2,416,054 eth at $ 4,497 per Token, 192 Bitcoins $ 345 million in cash and a capital participation of $ 175 million in eight holdings.
Bitmine described himself as the largest public holder in the world of Ether and the second largest cryptographic treasure in general, just following the strategy of Michael Saylor Inc. (Mstr).
Bitmine is chaired by Tom Lee, who is also Chief of Research at Fundstrat and Investment Director of Fundstrat Capital.
Lee said the company is chasing what he calls the “5% alchemy”, with the aim of accumulating 5% of ETH’s total supply. “Wall Street and AI that move to the block chain should lead to a greater transformation of the current financial system. And most of this is carried out in Ethereum,” Lee said.
Raise funds to grow treasure
A few hours later, Bitmine announced a securities purchase agreement with an institutional investor that covers 5.2 million shares common to $ 70 per share, approximately 14% above its closing of September 19, together with guarantee orders of up to 10.4 million additional shares to $ 87.50.
The offer is expected to collect $ 365 million in gross income, and the warrants potentially add another $ 913 million, which increases total potential revenues to approximately $ 1.28 billion.
Lee said that the main use of the funds would be to expand Bitmine’s ether holdings, calling for the premium “materially cumulative” price to existing shareholders.
Bitmine added that institutional demand reflected a growing interest in Ethereum when Wall Street integrates blockchain in financial infrastructure.
From 11:13 am et, BMNR shares traded around $ 55.79, 9% less in the day, according to Google Finance.
