BitMine Immersion (BMNR), the #1 ETH Holder, Files to Sell $24.5 Billion in Stock to Buy More Crypto

• Bitmine Immersion (BMNR), the #1 corporate ETH holder, has filed to raise a massive $24.5 billion.
• The company already holds 1.15 million ETH, more than 10x its closest public competitor.
• Proceeds from the stock sales may be used to acquire even more Bitcoin and Ethereum.

Ethereum treasury company BitMine Immersion Technologies (BMNR) has massively expanded its war chest, filing a supplementary proposal to increase its capacity to sell common stock under its at-the-market (ATM) program to $24.5 billion to diversify into crypto.

The SEC filing breaks down the total into $2 billion from the current proposal, $2.5 billion from a prior supplement, and a new $20 billion allocation.

Part of a bigger trend. BitMine is leading the pack, but they aren’t the only ones. Here’s our news report on Ethereum becomi…

The post BitMine Immersion (BMNR), the #1 ETH Holder, Files to Sell $24.5 Billion in Stock to Buy More Crypto appeared first on Coin Edition.