Kraken: BitMine Immersion Stock Soars with $250M ETH Treasury Plan and Thomas Lee Leadership

BitMine Immersion Technologies (BMNR) has made headlines with its recent $250 million private placement of common stock, tripling its stock value. The funds are set to establish an ether (ETH) treasury, positioning the Las Vegas-based miner as one of the largest public holders of ETH. The financing round, priced at $4.50 per share, attracted prominent investors such as Founders Fund and Pantera Capital. Additionally, the company has appointed Thomas Lee as its new Chairman, signaling a strategic shift towards cryptocurrency treasury management. This move underscores the growing institutional interest in ETH and highlights BitMine's ambitious plans in the digital asset space. The deal is expected to close on July 3, 2025, marking a significant milestone for the company and the broader crypto market.

BitMine Immersion Stock Triples After $250M Raise for Ether Treasury, Appoints Thomas Lee as Chairman

BitMine Immersion Technologies (BMNR) has secured $250 million through a private placement of common stock, with proceeds earmarked to establish an ether (ETH) treasury. The deal, expected to close on July 3, positions the Las Vegas-based miner among the largest public holders of ETH.

Priced at $4.50 per share, the financing attracted notable investors including Founders Fund, Pantera Capital, Kraken, Galaxy Digital, and Republic. Cantor Fitzgerald advised lead investor MOZAYYX, while ThinkEquity facilitated the placement.

The company cited Ethereum's dominance in stablecoin payments, tokenized assets, and decentralized finance as justification for selecting ETH as its primary reserve asset. "A direct ETH treasury position grants access to native protocol-level activities like staking and DeFi mechanisms," BitMine stated.

Fundstrat founder Thomas Lee, a Wall Street veteran known for his crypto research, joins as Chairman of the Board. Lee characterized the funding round as evidence of "the rapid convergence between traditional finance and crypto," introducing ether-per-share as a new performance metric.

Robinhood and Kraken-Backed Stablecoin USDG Expands to European Market

Global Dollar (USDG), a regulated stablecoin issued by Paxos with backing from major players including Robinhood, Kraken, and Mastercard, is now available across the European Union. The MOVE positions USDG as a compliant alternative in a market increasingly dominated by dollar-pegged digital assets.

Paxos emphasizes USDG's regulatory approvals, including oversight under Europe's MiCA framework, Finland's FIN-FSA, and Singapore's MAS. The stablecoin's EU launch requires Paxos Issuance Europe to maintain reserve assets with European banking partners, aligning with MiCA's stringent requirements.

Walter Hessert, Paxos' strategy head, frames the expansion as a commitment to "global digital assets that meet the highest standards of consumer protection." The entry challenges Circle's USDC, currently the largest MiCA-regulated stablecoin in Europe.