The post BitMine plans $20B stock sale to boost Ethereum holdings – Details appeared on BitcoinEthereumNews.com.

Key Takeaways With Ethereum climbing past $4,000, BitMine Immersion Technologies is expanding its equity sale to $24.5 billion to grow its ETH reserves, tapping into rising institutional interest and a bullish market trend. Ethereum’s [ETH] climb past the $4,000 mark has sparked a fresh wave of interest from both retail traders and institutional players. Riding this momentum, BitMine Immersion Technologies has taken a bold step by seeking approval from the U.S. Securities and Exchange Commission (SEC) to expand its at-the-market (ATM) equity offering to $20 billion.  This move brings BitMine’s total approved stock sales to $24.5 billion, with part of the proceeds earmarked for Ethereum accumulation.  The Delaware-based crypto mining firm initially announced a $2 billion offering on the 9th of July and has since scaled it significantly.  Under the expanded plan, BitMine will issue common stock at $0.0001 per share, though it has not yet disclosed the exact portion of funds that will be allocated to Ethereum purchases. Impact on BMNR stock price Following the announcement, BMNR stock rose 4% in pre-market trading and closed at $58.98 on the 11th of August. At press time, it was up another 4.62%, according to Google Finance. BitMine, which trades on the NYSE American under the ticker BMNR, plans to conduct the expanded sale through an ATM offering, with Cantor Fitzgerald serving as the sole sales agent.  The company will pay up to 3% in commissions on the gross proceeds from these transactions. Flexible, but Ethereum-focused In its filing, the firm outlined a flexible funding strategy.  While leaving room for debt repayment, share buybacks, and broader business expansion, BitMine also stated its intention to allocate part of the funds toward acquiring more Ethereum.  Notably, the company hasn’t ruled out using the capital for Bitcoin purchases or upgrading its mining infrastructure. BitMine’s recent Ethereum…

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Filed under: News - @ August 14, 2025 3:28 am