BitMine issues new shares at a premium of $70, holding a total of 2.46 million Ether with total assets reaching $11.4 billion.

Ethereum reserve company BitMine announced a new share issuance at $70, raising over $300 million. It currently holds 2.46 million Ether, with total assets valued at $11.4 billion. The BMNR stock price dropped 10.1% yesterday to close at $55.1, following the price drops of ETH.

BitMine holds 2.46 million Ether, with a total asset value of 11.4 billion USD.

BitMine revealed its latest cryptocurrency holdings. As of September 21, the cryptocurrency assets held by BitMine include:

2,416,054 pieces of ETH

192 bitcoins

$175 million Eightco Holdings

345 million USD of undistributed cash

Total net asset value of 11.4 billion USD. BitMine firmly holds the position of the largest ETH holder globally, with its cryptocurrency assets second only to MicroStrategy (MSTR).

( BitMine investment WLD reserve strategy company Eightco, OCTO stock price increased 30 times in a single day )

BitMine issues new shares at a premium of 70 USD, raising another 300 million.

BitMine has announced that it has reached a securities purchase agreement with an institutional investor,

Issuing 5,217,715 shares of common stock at a price of 70 dollars per share.

At an exercise price of $87.50 per share, warrants to purchase up to 10,435,430 shares of common stock will be exercised at issuance and will expire on March 22, 2027.

The company expects that the total amount of funds raised from this issuance, before deducting placement agent fees and other estimated issuance costs, will be approximately 365.24 million USD. Among the potential total funds raised from the warrants in the future, the funds raised from cash exercise will be approximately 913 million USD. The total funds raised from the issuance of common stock and cash exercise of the warrants combined will amount to approximately 1.28 billion USD.

BMNR price drops 10%

BMNR's stock price dropped 10.1% yesterday, closing at $55.1, following the price drops of ETH. However, investors are willing to subscribe to new shares at a high premium of $70 and $87.5, indicating a very optimistic outlook for its prospects. It is expected that BitMine should be able to firmly maintain its position as a leader in the Ethereum reserve strategy, continuously attracting investors' favor with a higher premium.

This article states that BitMine issued new shares at a premium of 70 USD, holding a total asset of 2.46 million Ether worth 11.4 billion USD, first appearing in Chain News ABMedia.