Overview

• BitMine reported holdings of 2,416,054 ETH—just over 2% of supply—plus 192 Bitcoin, $345 million in cash, and a $175 million stake in Eightco, totaling about $11.4 billion in crypto and cash assets.
• The company added 264,378 ETH in the past week as it advances what it calls the “Alchemy of 5%” plan to own a significant share of Ethereum’s circulating supply.
• BitMine entered a registered direct offering for 5,217,715 shares at $70 each with warrants for up to 10,435,430 shares at $87.50, targeting $365.24 million in gross proceeds and up to roughly $1.28 billion if warrants are exercised.
• The warrants are immediately exercisable and expire on March 22, 2027, and the offering is expected to close on or about September 23 with Moelis & Company as placement agent.
• Shares traded 5%–10% lower intraday following the disclosures, as BitMine’s status as the largest corporate holder of ETH and the second-largest overall crypto treasury drew intensified market attention.