ETH Nears $4,500 as Its Biggest Whale BitMine Unleashes $20B War
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Hassan Shittu
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Hassan Shittu
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Hassan, a Cryptonews.com journalist with 6+ years of experience in Web3 journalism, brings deep knowledge across Crypto, Web3 Gaming, NFTs, and Play-to-Earn sectors. His work has appeared in...
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August 12, 2025
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BitMine Immersion Technologies is raising the stakes in the Ethereum market, filing with the U.S. Securities and Exchange Commission (SEC) to expand its at-the-market equity offering by a massive $20 billion.
The move boosts the company’s total stock sale capacity to $24.5 billion, with much of the proceeds expected to be used for additional ETH purchases.
The Delaware-based crypto mining and Ethereum treasury firm first announced a $2 billion offering on July 9 through Cantor Fitzgerald and ThinkEquity. That figure jumped to $4.5 billion on July 24.
The latest supplement represents a fivefold increase in its share sale capacity, marking one of the largest equity raise expansions seen in the crypto sector.
Corporate ETH Buying Turns Strategic as BitMine Targets Validator Infrastructure.
The company said the fresh capital may also be used to buy Bitcoin and expand its mining and consulting operations, but Ethereum remains its clear focus.
BitMine’s common stock trades on the NYSE American under the ticker BMNR, closing at $58.98 on August 11. Under...
https://cryptonews.com/news/eths-biggest-whale-bitmine-unleashes-20b-war-chest-to-buy-more-ethereum-supply-shock-imminent/
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