BitMine Plans $20 Billion Equity Offering to Acquire More Ethereum

NEW YORK, NY — BitMine Immersion Technologies (BMNR) announced plans to expand its at-the-market equity offering by $20 billion on August 12, 2025. This increase will raise the total capacity to $24.5 billion, with proceeds aimed at purchasing additional Ethereum (ETH). The company hopes to acquire up to 5% of the total circulating supply of the cryptocurrency.

BitMine’s aggressive strategy has contributed to a notable rally in Ethereum prices, driven by market expectations of tightened supply. However, some analysts have expressed concerns over potential dilution of shares and effective capital deployment, resulting in a temporary pullback in the company’s stock price.

As of now, BitMine is the largest corporate holder of Ethereum, with over 1 million ETH valued at about $5 billion. The company’s long-term goal of holding a 5% stake in the overall ETH supply reflects its ambitious strategy to enhance its market position and attract further investment.

Tom Lee, chairman of BitMine and co-founder of Fundstrat, has played a significant role in the company’s cryptocurrency initiative. His involvement adds credibility to BitMine’s plan and has positively influenced investor sentiment. Lee anticipates that ETH prices could soar to between $7,000 and $15,000 by the end of the year, thus incentivizing his ongoing acquisitions of Ethereum for liquidity and reserves.

BitMine’s strategy aligns with similar treasury practices used by companies like MicroStrategy, known for holding significant amounts of Bitcoin. This method has also been adopted by firms like GameStop and SharpLink Gaming, illustrating a trend among corporations investing heavily in digital assets.

Despite recent fluctuations, BitMine’s stock has surged approximately 1,360% since June, coinciding with Lee’s appointment as chairman. This explosive growth has been largely attributed to the company’s push into Ethereum investments amidst a broader bullish market trend for cryptocurrencies.

The expansion of BitMine’s treasury initiative has garnered attention from industry analysts. As of now, the stock remains a strong performer, with some analysts expressing optimism about its future potential amidst a rapidly evolving digital economy.