Bitmine plans to raise $365 million to continue increasing its ETH holdings

BitMine Immersion Technologies (BMNR) announced that it has entered into a securities purchase agreement with an institutional investor to sell 5,217,715 shares of common stock at $70.00 per share and to grant warrants to purchase up to 10,435,430 shares of common stock (exercise price $87.50 per share) through a registered direct offering. The company expects gross proceeds from the offering to be approximately $365.24 million, before deducting placement agent fees and other estimated offering expenses. If all warrants are exercised in cash, potential future gross proceeds are approximately $913 million. The combined proceeds from the common stock offering and the cash exercise of the warrants could reach approximately $1.28 billion. (PRNnewswire)