BitMine unveils public offering worth $18 million, intending to acquire Bitcoins
Biting into Bitcoin: BitMine's $18M Push to Gobble Up More Crypto
BitMine Immersion Technologies is on a spending spree, planning to devour $18 million worth of Bitcoin by offering up 2.25 million shares at $8 a pop. Here's the skinny on this appetizing opportunity.
On June 4, BitMine announced its dandy little stock offering, set to close on the 6th, fingers crossed. If everything goes according to plan, these funds will be used to stack up on more Bitcoin like greedy chipmunks stuffing their cheeks. Underwriters have been given the option to grab an extra 337,500 shares within a 45-day period to cover potential over-allotments.
BitMine's taste for Bitcoin doesn't stop here. The company aims to become a long-term Bitcoin treasury enterprise, withoperations in Trinidad and Texas. With this mouthful of moolah, BitMine will undoubtedly position itself as a Bitcoin-friendly financial beast.
Listing on the NYSE American exchange as BMNR, the shares will begin trading on June 5. Simultaneously, BitMine's stock on the OTCQX Best Market will be shuttered for good. Shareholders need not jump through hoops in relation to this uplisting. ThinkEquity plays the role of the sole book-running manager for this intriguing offering.
The crypto world is buzzing with enthusiasm as Bitcoin's reputation shines ever brighter. A recent report by JPMorgan reveals a 20% increase in the combined market capitalization of 13 publicly traded Bitcoin miners in May, signaling increased mining profitability.
In addition, BitMine has launched a Bitcoin Treasury Advisory Practice in May, securing a $4 million leasing agreement with 3,000 ASIC miners. This new division assists public companies in developing Bitcoin-based strategies, including accounting and hedging.
BitMine's CEO, Jonathan Bates, has previously spotlighted the booming demand for Bitcoin infrastructure and advisory services, as more companies seek to implement Bitcoin-based treasury models.
With this exciting move, BitMine confesses its fascination with Bitcoin, signaling a firm belief that increased investor exposure and capital will enrich its lengthy Bitcoin strategy.
Stepping onto the stage, Méliuz becomes the very first publicly listed Brazilian firm to embrace the Bitcoin treasury model. Keep an eye on these thrilling developments in the Bitcoin universe!
- BitMine Immersion Technologies plans to invest $18 million in Bitcoin, aiming to become a long-term Bitcoin treasury enterprise.
- The company also launched a Bitcoin Treasury Advisory Practice in May, securing a $4 million leasing agreement for 3,000 ASIC miners.
- The crypto world is abuzz with increasing mining profitability, as evidenced by a 20% increase in the combined market capitalization of 13 publicly traded Bitcoin miners in May.
- BitMine's CEO, Jonathan Bates, believes that increased investor exposure and capital will enrich its Bitcoin strategy.
- Following this move, Méliuz, a publicly listed Brazilian firm, has become the first to adopt the Bitcoin treasury model, signaling a growing trend in the crypto finance industry.
