BitMine Raises $18M to Boost Bitcoin Holdings, Lists on NYSE American

BitMine Immersion Technologies has closed an $18 million public stock offering to buy more Bitcoin. In a June 4 press release the company...

Written by: Arslan Butt • Thursday, June 5, 2025 • 2 min read

• Last updated: Thursday, June 5, 2025

Quick overview

BitMine Immersion Technologies has raised $18 million through a public stock offering to enhance its Bitcoin holdings.
The company plans to use the funds for both mining and direct market purchases of Bitcoin, solidifying its position in the competitive mining space.
BitMine's shares have transitioned from OTCQX to the NYSE American exchange, aiming to attract institutional investors and increase liquidity.
With a focus on Bitcoin advisory services, BitMine is positioning itself as a comprehensive infrastructure and advisory hub for Bitcoin investments.

BitMine Immersion Technologies has closed an $18 million public stock offering to buy more Bitcoin. In a June 4 press release the company announced the sale of 2.25 million shares at $8.00 each. Underwriters also have a 45 day option to buy up to 337,500 more shares to cover over-allotments. The deal is expected to close June 6, subject to customary conditions.

This is a big move for BitMine to become a long term Bitcoin company. The entire raise will be used to buy Bitcoin – both through mining and direct market purchases. With mining sites in Trinidad and Texas the company is solidifying its position in the increasingly competitive cryptocurrency mining space.

NYSE Uplisting and Market Strategy

BitMine’s shares were previously traded on the OTCQX Best Market and began trading on the NYSE American exchange under the ticker symbol BMNR June 5. Shareholders do not need to do anything in connection with the uplisting. ThinkEquity was the sole book-running manager for the offering.

The uplisting is part of BitMine’s broader strategy to attract institutional investors and increase liquidity. According to JPMorgan, the market cap of 13 publicly traded Bitcoin mining companies rose 20% in May as the sector rebounded.

Key updates include:

Launched a Bitcoin Treasury Advisory Practice in May
A $4 million lease agreement for 3,000 ASIC mining units
Enhanced services for public companies exploring BTC based treasury models

BitMine is more than just a mining company – it’s becoming an infrastructure and advisory hub for Bitcoin.

A Bitcoin Focused Future

CEO Jonathan Bates has been saying for months that there is growing demand for Bitcoin advisory services as public companies start to add BTC to their financial plans. By combining mining with treasury consulting and strategic Bitcoin purchases BitMine is creating a vertically integrated model for long term crypto investing.

The $18 million raise and major exchange uplisting is a big bet on Bitcoin. In a world where digital asset adoption is growing BitMine is putting itself at the forefront of this financial shift.

With new capital, a stronger trading platform and expanding services BitMine is all in on Bitcoin – and inviting the market to join in.

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ABOUT THE AUTHOR See More

Arslan Butt

Lead Markets Analyst – Multi-Asset (FX, Commodities, Crypto)

Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics. His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker. His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.