The Ethereum treasury company BitMine will carry out a direct issuance of over $365 million.

PANews, September 22 - According to a report by PR Newswire, BitMine, an Ethereum treasury company, announced that it has reached an agreement with an institutional investor on a securities subscription protocol. The agreement involves the sale of approximately 5.22 million shares at a price of $70 per share in a registered direct issuance transaction, along with the sale of approximately 10.4 million warrants with an exercise price of $87.50. The company expects the total fundraising before deducting placement agent fees and other anticipated issuance costs to be approximately $365.24 million. If all warrants are exercised in cash, the potential total fundraising in the future is approximately $913 million. Adding the proceeds from the common stock issuance and the cash proceeds from the warrant exercise, the total fundraising will reach approximately $1.28 billion. The company expects this issuance to be completed around September 23, 2025, but it must meet customary closing conditions. According to previous reports, BitMine disclosed that it currently holds over 2% of the ETH token supply, with total assets reaching 11.4 billion USD.