TLDR
- BitMine Immersion Technologies is raising $18 million through a public stock offering at $8.00 per share to buy Bitcoin directly
- The company’s stock will begin trading on NYSE American under ticker BMNR on June 5, moving from OTCQX Best Market
- All proceeds from the 2.25 million share offering will be used exclusively to purchase Bitcoin for long-term investment
- The offering includes a 45-day option for underwriters to purchase an additional 337,500 shares and is expected to close June 6
- BitMine operates Bitcoin mining facilities in Trinidad and Texas and recently launched a Bitcoin Treasury Advisory Practice
BitMine Immersion Technologies announced a public stock offering to raise $18 million for Bitcoin purchases. The company will sell 2.25 million shares at $8.00 each through the offering.
The funds will go entirely toward buying Bitcoin as part of BitMine’s treasury strategy. The company focuses on accumulating Bitcoin through both mining operations and direct investment.
BitMine received approval to list on NYSE American under the ticker symbol BMNR. Trading begins June 5, 2025, replacing its current listing on the OTCQX Best Market.
The offering includes an over-allotment option allowing underwriters to purchase up to 337,500 additional shares within 45 days. This could bring total proceeds to $20.7 million if fully exercised.
ThinkEquity serves as the sole book-running manager for the deal. The offering expects to close on June 6, pending standard closing conditions.
Current shareholders need no action for the stock exchange transition. Share prices will stop appearing on OTC Markets when NYSE American trading starts.
Mining Operations and Advisory Services
BitMine operates mining facilities across multiple locations including Trinidad, Pecos Texas, and Silverton Texas. These facilities focus on low-cost energy regions to maximize mining efficiency.
The company launched its Bitcoin Treasury Advisory Practice in May 2025. This service helps public companies develop Bitcoin-based treasury strategies including accounting and hedging approaches.
BitMine also secured a $4 million leasing agreement involving 3,000 ASIC miners. This equipment supports the company’s mining operations and revenue generation.
Market Position and Strategy
CEO Jonathan Bates has emphasized growing demand for Bitcoin infrastructure and advisory services. More companies are exploring Bitcoin treasury models for their corporate strategies.
Recent Financial Performance
The Bitcoin mining sector showed positive momentum in May 2025. JPMorgan reported that 13 publicly traded Bitcoin miners saw their combined market value increase by 20% during the month.
BitMine filed its registration statement on Form S-1 with the Securities and Exchange Commission. The filing became effective on June 4, 2025, clearing the way for the public offering.
The prospectus will be available through ThinkEquity at their New York office. Final documents will also appear on the SEC website once filed.
The offering follows standard securities regulations with sales restricted in certain jurisdictions. Registration and qualification requirements vary by state and must be met before any sales occur.
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