BitMine Immersion Technologies, Inc. (NYSE American: BMNR) has completed an underwritten public offering, raising $18 million before expenses, by selling 2,250,000 shares at $8.00 each, with trading starting on the NYSE American on June 5, 2025. The offering includes a 45-day option for underwriters to buy an extra 337,500 shares to cover over-allotments, enhancing BitMine's market presence.
The funds are designated for Bitcoin purchases, supporting BitMine's strategy that includes direct Bitcoin mining, synthetic Bitcoin mining, and hashrate as a financial product. The company also provides advisory and mining services to clients aiming for Bitcoin-denominated revenues, reflecting its comprehensive engagement with the cryptocurrency sector.
Operating in low-cost energy areas like Trinidad; Pecos, Texas; and Silverton, Texas, BitMine optimizes efficiency and reduces costs in its mining activities. Its dedication to Bitcoin accumulation, through mining or capital raising, demonstrates a strong belief in the cryptocurrency's long-term value.
ThinkEquity served as the sole book-running manager for the offering, enabling BitMine to tap into capital markets effectively. This achievement not only furnishes BitMine with essential resources for its Bitcoin strategy but also signals increasing investor confidence in cryptocurrency ventures, positioning BitMine as a key innovator in the evolving digital currency domain.
