BitMine Immersion Technologies, a Bitcoin-focused technology firm, announced on June 4, 2025, that it will raise $18 million through a public stock offering.
The company plans to sell 2.25 million shares at $8.00 each, with an underwriter option to buy an additional 337,500 shares within 45 days if needed.
The offering is expected to close on June 6, 2025, subject to customary conditions. The funds will be used to increase BitMine’s Bitcoin holdings and strengthen its treasury strategy.
Public Offering Details
Under the terms of the deal, ThinkEquity serves as the sole book-running manager. BitMine filed a registration statement on Form S-1 (File No. 333-284361) with the SEC, which became effective on June 4, 2025.
The offering will be conducted only through a prospectus. Copies of the final prospectus will be available from ThinkEquity at its New York office and on the SEC’s website. The underwriters may exercise their option to acquire extra shares if demand exceeds the initial amount.
Uplisting to NYSE American
Simultaneously, BitMine’s common stock has been approved for listing on NYSE American LLC under the symbol “BMNR.” Trading on the new exchange is set to begin on June 5, 2025.
As a result, prices for BitMine shares will no longer be quoted on the OTC Markets’ OTCQX Best Market. Current shareholders do not need to take any action for this change in listing. The move to NYSE American is a significant step, as it brings higher visibility and liquidity to the stock.
Use of Proceeds and Advisory Services
BitMine intends to use the net proceeds from the stock sale to purchase additional Bitcoin. This move aligns with the company’s core goal of accumulating Bitcoin for long-term investment, whether the coins are mined by BitMine’s operations or bought with capital from fundraising.
In May 2025, BitMine launched a Bitcoin Treasury Advisory Practice to help other public companies develop Bitcoin strategies in areas such as accounting and risk management. This added service aims to deepen BitMine’s role in the wider Bitcoin ecosystem.
Leasing Agreement for ASIC Miners
In addition to raising capital, BitMine secured a $4 million leasing agreement for 3,000 ASIC miners. This deal will expand the company’s mining capacity.
The combination of raising funds, expanding mining operations, and offering advisory services shows BitMine’s commitment to solidifying its position as a Bitcoin-first public company.
Market Context and Bitcoin Price Actions
According to a report by JPMorgan, the combined market capitalisation of thirteen publicly traded Bitcoin miners rose by 20% in May 2025. That increase signals improving profitability in the mining sector.
As of June 4, 2025, Bitcoin was trading at $104,780.04, down 0.63% in the past 24 hours. The global market capitalisation of all cryptocurrencies stood at $2.08 trillion, with a 0.66% uptick in 24-hour trading volume.
BitMine’s new fundraising and NYSE listing raise the question of whether its increased Bitcoin purchases could influence overall market dynamics.
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