Overview
- The company disclosed 2,416,054 ETH on its balance sheet—just over 2% of circulating supply—within total crypto and cash assets of about $11.4 billion.
- BitMine sold 5,217,715 shares at $70 each, a 14% premium to its Sept. 19 close, and issued warrants for up to 10,435,430 shares at $87.50, implying up to $1.28 billion in potential proceeds if fully exercised.
- Warrants are exercisable immediately and expire on March 22, 2027, with the registered direct offering expected to close around Sept. 23, subject to customary conditions.
- The latest disclosure included a weekly addition of 264,378 ETH, and management said proceeds from the share sale will primarily fund further ETH accumulation.
- Shares fell roughly 5%–10% on Monday following the purchase and financing news, as BitMine emphasized its status as the largest public ETH holder and the second-largest overall crypto treasury, backed by major institutional investors.