BitMine Spends $16.347 Million on 154.167 Bitcoins at $106,033 Each

BitMine Immersion Technologies, Inc., a US-listed technology company, has recently made a substantial investment in Bitcoin. The company allocated $16.347 million to acquire an additional 154.167 Bitcoins, with each Bitcoin purchased at an average price of $106,033. This acquisition was financed through the proceeds from a recent public offering of common stock, which concluded on June 6, 2025. The net proceeds from this offering, after accounting for fees and expenses, totaled approximately $16.340 million. The slight discrepancy between the spending and the net proceeds highlights BitMine's dedication to its long-term investment strategy in Bitcoin.

BitMine's approach to accumulating Bitcoin for long-term investment is evident in this transaction. The company's emphasis on Bitcoin, whether through mining operations or capital raising activities, underscores its confidence in the cryptocurrency's potential as a store of value. This acquisition is in line with BitMine's objective to increase its Bitcoin holdings, which it aims to achieve through various means, including capital market activities.

The average price of $106,033 per Bitcoin at which BitMine made this purchase reflects the current market conditions and the company's readiness to invest at prevailing rates. This move is part of BitMine's broader strategy to build a substantial Bitcoin treasury, which can serve as a hedge against market volatility and provide long-term value to shareholders.

The completion of this Bitcoin purchase represents a significant milestone for BitMine, demonstrating its ability to execute on its investment strategy and leverage capital market activities to enhance its Bitcoin holdings. As the company continues to pursue its long-term investment goals, it remains focused on maximizing shareholder value through strategic acquisitions and investments in Bitcoin.