The Ethereum treasury company BitMine will conduct a registered direct offering of over $365 million

ChainCatcher news, according to a press release, Ethereum treasury company BitMine announced that it has reached an agreement with an institutional investor on a securities subscription agreement, which involves selling approximately 5.22 million shares at a price of $70 per share in a registered direct offering, and selling about 10.4 million warrants with an exercise price of $87.5.

The company expects that the total fundraising before deducting placement agent fees and other estimated issuance costs will be approximately $365.24 million. If the warrants are fully exercised in cash, the potential total fundraising in the future will be approximately $913 million. Adding the proceeds from the common stock issuance to the cash proceeds from the warrant exercise, the total fundraising will reach approximately $1.28 billion. The company expects this issuance to be completed around September 23, 2025, subject to customary closing conditions. Previously, BitMine disclosed that it currently holds over 2% of the ETH token supply, with total assets of $11.4 billion.