Ethereum News Today: BitMine Expands ATM Offering to $24.5 Billion to Fund ETH Purchases

BitMine Immersion Technologies has filed with the U.S. Securities and Exchange Commission (SEC) to expand its at-the-market (ATM) equity offering by $20 billion, increasing the total offering capacity to $24.5 billion. The move, disclosed on August 10, 2025, is intended to provide additional capital for the company’s continued acquisition of Ethereum (ETH), supporting its broader strategy to grow its crypto treasury and expand its operations in the digital asset space [1].

The company initially launched its ATM offering on July 9, 2025, with a maximum value of $2 billion, and later increased it to $4.5 billion on July 24 through an SEC filing. The recent amendment significantly expands the issuance authority, marking a fivefold increase in the company’s capacity to raise capital through this method [2]. BitMine emphasized that the proceeds will be used to purchase ETH and potentially expand its Bitcoin (BTC) mining and consulting operations, though the most recent SEC filing does not specify immediate plans for BTC [3].

BitMine’s aggressive accumulation strategy has already proven effective. In just one week, the firm increased its ETH holdings by 317,000 tokens, bringing its total to 1.15 million ETH, valued at over $4.96 billion as of August 11, 2025 [4]. This places BitMine as the entity with the largest Ethereum treasury globally, surpassing other institutional holders such as Joe Lubin’s SharpLink and The Ether Machine [5]. BitMine’s chairman, Tom Lee, has highlighted the growing institutional momentum behind Ethereum, drawing parallels to the 2017 Bitcoin boom, and has suggested the token could reach $30,000 or more under favorable conditions [6].

The company’s shares have responded positively to the news. As of August 11, 2025, BitMine’s stock was up 3.8% in pre-market trading, following a 14.7% gain the previous day. The firm’s stock, trading under the ticker BMNR on the NYSE American, closed at $58.98 on August 11, reflecting continued investor confidence in the company’s strategy [2]. Analysts have noted that BitMine’s actions may contribute to stabilizing Ethereum’s price by reducing circulating supply through large-scale institutional buying [7].

The broader market has also shown signs of strengthening. Ethereum’s price rose to $4,405 on August 11, up 5.4% in the last 24 hours, as reported by The Block. This upward movement follows a period of rapid accumulation by multiple Ethereum treasury companies, who are adopting a strategy similar to Michael Saylor’s approach with Bitcoin, purchasing large quantities of ETH and holding them as long-term assets [8]. A report from Standard Chartered’s Geoffrey Kendrick suggests that these firms are “just getting started,” and could one day hold as much as 10% of all ETH in circulation [7].

BitMine’s expanded ATM offering aligns with a growing trend of institutional investors treating digital assets like traditional equities, leveraging capital markets to fund long-term crypto investments. The company has not specified a timeline for the completion of the $20 billion offering but has indicated that it plans to act when market conditions are favorable [3].

Sources:

[1] title1: BitMine files to expand its at-the-market equity offering by ...

(https://www.theblock.co/post/366550/ethereum-treasury-company-bitmine-files-to-expand-at-the-market-equity-offering-by-20-billion-usd-to-fund-more-eth-purchases?utm_medium=rss&utm_source=markets.xml)

[2] title2: Bitmine Immersion Plans $20 Billion Funding to Increase ...

(https://www.binance.com/en/square/post/28216432610242)

[3] title3: BitMine to expand ATM stock offering to $24.5 billion

(https://www.mexc.com/news/bitmine-to-expand-atm-stock-offering-to-24-5-billion/64878)

[4] title4: BitMine Immersion (BMNR) ETH Holdings Exceed 1.15 ...

(https://www.abc27.com/business/press-releases/cision/20250811NY48237/bitmine-immersion-bmnr-eth-holdings-exceed-1-15-million-tokens-valued-in-excess-of-4-96-billion-and-largest-eth-treasury-in-world)

[5] title5: Ethereum ETF Frenzy: $1B+ Net Inflows in a Single Day

(https://crypto-economy.com/ethereum-etf-frenzy-1b-net-inflows-in-a-single-day/)

[6] title6: Form 424B5 BITMINE IMMERSION TECHNO

(https://www.streetinsider.com/SEC+Filings/Form+424B5+BITMINE+IMMERSION+TECHNO/25184392.html)

[7] title7: BitMine plans to add $20 billion in common stock issuance ...

(https://www.binance.com/square/post/28216439789682)

[8] title8: BitMine files to expand its at-the-market equity offering by ...

(https://m.economictimes.com/wealth/invest/top-undervalued-crypto-tokens-set-to-rally-with-the-market/articleshow/123259232.cms)