Ethereum News Today: BitMine Expands $20B Stock Sale to Fuel Ethereum Accumulation as Price Nears $4,700

BitMine Immersion Technologies has filed with the U.S. Securities and Exchange Commission (SEC) to expand its at-the-market equity offering by $20 billion, bringing its total authorized stock-sale capacity to $24.5 billion [1]. This significant capital raise is intended to fund the company’s ongoing accumulation of Ethereum (ETH), as the price of ETH approaches $4,700. BitMine’s initial offering was $2 billion, announced on July 9, and the expanded offering allows for the issuance of common stock at $0.0001 per share, with Cantor Fitzgerald serving as the sole sales agent [1].

The company has already added $2 billion worth of ETH to its portfolio since July 9, according to disclosures, bringing the total value of its digital assets to $4.96 billion [3]. While BitMine has not specified the exact portion of the $20 billion offering that will be allocated to ETH, it has emphasized that Ethereum accumulation is a key objective. The firm also retains the flexibility to use the proceeds for infrastructure development, debt repayment, or share buybacks, depending on market conditions.

BitMine’s strategy of using stock sales to fund ETH purchases mirrors corporate strategies adopted by companies such as MicroStrategy, highlighting a growing trend of institutional-grade digital asset accumulation [2]. The company has also left open the possibility of purchasing Bitcoin or investing in mining upgrades, depending on future opportunities.

Ethereum’s recent performance has been strong, with the price rising nearly 50% over the past month and more than 70% year-to-date, approaching its November 2021 peak [1]. Institutional interest appears to be increasing as well, with corporate Ethereum holdings rising approximately 128%, reaching over 2.7 million ETH—valued at roughly $11.6 billion—as 24 new corporate holders joined the list [1].

BitMine’s move has already triggered a positive market reaction. Following the SEC filing, shares of BMNR rose approximately 4% in pre-market trading and closed at $58.98 on August 11 [1]. The stock continued to see gains in subsequent trading, according to financial platforms.

The company’s strategy of large-scale ETH accumulation could influence market dynamics by reducing supply pressure. Some analysts have speculated that a sudden $20 billion deployment could create significant supply shocks, particularly in a market where large whale activity remains influential [5]. The removal of approximately 45 days’ worth of Ethereum issuance from the open market may reinforce bearish pressure on the asset’s supply [5].

BitMine’s aggressive funding strategy underscores its long-term bet on Ethereum. The company has already acquired over 1.15 million ETH, and its increased exposure to the cryptocurrency positions it as a major market participant [7]. The move also reflects a broader trend of corporate crypto accumulation, which is increasingly shaping price movements in the digital asset space.

As Ethereum approaches key psychological price levels, BitMine’s actions highlight the growing institutional involvement in the crypto ecosystem. With the company’s expanded capital access and clear focus on ETH, the coming months will be crucial in determining how effectively the capital raise translates into meaningful Ethereum accumulation and its broader market impact.

Source:

[1] https://www.coingabbar.com/en/crypto-currency-news/bitmine-plans-massive-245b-stock-sale-as-ethereum-nears-4500?srsltid=AfmBOooh-1SDVs9xndKr8598vB3x8537OauqiMDlEhira6wGk7ogz2d0

[2] https://www.mitrade.com/insights/news/live-news/article-3-1033438-20250813

[3] https://www.indexbox.io/blog/bitmine-immersion-stock-rises-3-as-ethereum-hits-4400/

[4] https://www.ainvest.com/news/ethereum-news-today-ethereum-surges-3-2-fed-rate-cut-hopes-1-billion-etf-inflows-2508/

[7] https://blockchair.com/news/ethereum-hits-4400-as-tom-lees-bitmine-boosts-stock-offering--7bf54312811baada