BitMine Appoints New Chairman and Announces $250M Private Placement for Ethereum Treasury

Summary

BitMine Immersion Technologies, Inc. appointed Thomas Lee as Chairman of the Board and announced a $250M private placement, led by MOZAYYX, to enhance its Ethereum treasury strategy. This move positions BitMine to become one of the largest publicly traded ETH holders, with expected closing on July 3, 2025. The Board also expanded by one member. The transaction values BitMine's common stock at $4.50 per share and is expected to fund the acquisition of ETH for the Company's treasury operations.