Ashtead Group Plc Announces Repurchase of 93,002 Shares Under $1.5bn Programme

Ashtead Group purchased 93,002 of its own ordinary shares on June 30, 2025, at an average price of 4,683 pence per share. The remaining number of ordinary shares in issue is 427,772,254, and the company now holds 23,582,579 ordinary shares in Treasury. The transaction is part of its up to $1.5bn share repurchase programme announced on December 10, 2024.

BitMine Immersion Technologies Inc. (BMNR) stock experienced a significant surge on Monday, June 30, 2025, rising by over 343% in morning trade. The stock's performance was driven by the finalization of a private placement aimed at raising approximately $250 million. This funding round will support a new treasury strategy centered on Ethereum (ETH).

The financing involves the sale of over 55 million shares of common stock or equivalent securities at $4.50 per share. The deal, which is backed by a consortium of both traditional finance and crypto-focused investors, is expected to close around July 3, pending regulatory approvals. The funds, which include cash and cryptocurrency contributions, will be used to establish a treasury reserve based on ETH, the native token of the Ethereum blockchain.

The financing round was led by MOZAYYX and drew participation from firms such as Founders Fund, Pantera, Kraken, Republic Digital, and Galaxy Digital. Other notable investors included FalconX, DCG, Diametric Capital, and Occam Crest Management. Thomas Lee, recently appointed Chairman of BitMine’s Board, described the investor group as the highest quality across trad-fi and crypto venture capital.

Proceeds from the offering will be directed toward acquiring ETH to serve as the company’s primary treasury reserve asset. This shift positions BitMine to tap directly into Ethereum’s protocol-level features, including staking and access to decentralized finance (DeFi) applications.

Lee remarked that stablecoins have emerged as the breakthrough technology in crypto, similar to how ChatGPT reshaped AI, driving widespread usage across consumers, businesses, and the financial sector. He referenced comments by Treasury Secretary Scott Bessent, who estimated the stablecoin market could expand to $2 trillion, a significant leap from its current $250 billion valuation, based on data from DeFiLlama and Bloomberg. Lee emphasized that Ethereum is positioned to benefit significantly from this growth.

Looking ahead, one of BitMine’s main goals is to boost the amount of ETH held per share, said Lee. The move signals a notable shift toward the convergence of traditional financial structures and blockchain-native technologies.

On Stocktwits, retail sentiment around BitMine Immersion improved to 'extremely bullish' from 'bearish' territory the previous day. Message volume jumped to 'extremely high' from 'extremely low' levels in 24 hours.

BitMine Immersion stock has more than doubled in 2025 and gained over 43% in the last 12 months.

References:
[1] https://stocktwits.com/news-articles/markets/equity/bitmine-stock-more-than-triples-as-it-raises-250-million-to-fund-ethereum-treasury-strategy/chmZkoHRR7I