Ethereum treasury company BitMine to conduct a registered direct offering of over $365 million

According to ChainCatcher, as reported by PR Newswire, Ethereum treasury company BitMine announced that it has reached an agreement with an institutional investor on a securities subscription agreement. The agreement involves the sale of approximately 5.22 million shares at a price of $70 per share in a registered direct offering transaction, as well as the sale of approximately 10.4 million warrants with an exercise price of $87.5.

The company expects the total gross proceeds from this offering, before deducting placement agent fees and other estimated offering expenses, to be approximately $365.24 million. If all warrants are exercised for cash, the potential total gross proceeds in the future would be about $913 million. Adding the proceeds from the common stock issuance and the cash proceeds from the warrant exercises, the total gross proceeds would reach approximately $1.28 billion. The company expects this offering to be completed around September 23, 2025, subject to customary closing conditions. According to previous reports, BitMine disclosed that it currently holds more than 2% of the ETH token supply, with total assets reaching $11.4 billion.