Bit Digital Exits Bitcoin Mining with 417 BTC, 24,434 ETH; BitMine Raises $250M, Tom Lee Named Chairman

28 posts • GPT (4.1 mini)

Updated Jun 30, 2025, 02:24 PM

Bit Digital, a Nasdaq-listed company, is undergoing a strategic transformation to become a pure-play Ethereum staking and treasury company. The firm plans to wind down its Bitcoin mining operations and convert its holdings of approximately 417 Bitcoin, valued at about $34.5 million, into Ethereum. As of the end of March 2025, Bit Digital held around 24,434 Ethereum, valued at approximately $44.6 million. To accelerate this shift, the company recently raised $150 million through a public offering aimed at purchasing more Ethereum for its treasury.

Separately, BitMine Immersion Technologies, a publicly traded Bitcoin mining company listed on NYSE American under the ticker BMNR, has appointed Wall Street strategist Tom Lee as chairman of its board. BitMine announced a $250 million private placement to support an Ethereum-focused treasury strategy, intending to become one of the largest publicly traded holders of Ethereum. The private placement involved selling approximately 55.56 million shares at $4.50 each, with participation from investors including MOZAYYX, Founders Fund, and Pantera. Following the announcement, BitMine's stock surged significantly in pre-market trading. Tom Lee aims to position BitMine as the "MicroStrategy of Ethereum," replicating the strategy of building a substantial ETH treasury.

More breaking stories on DeepNewz — updated live.

#Bit Digital #Nasdaq #Ethereum #Bitcoin #BitMine Immersion Technologies #NYSE American #BMNR #Wall Street #Tom Lee #BitMine #MOZAYYX #Founders Fund #Pantera

Financial Analysis

Associated Financial Markets

More financial news and market updates→

Related Prediction Markets

Will Trump Media invest in Ethereum before July?

Will Trump Media invest in Bitcoin before July?

Bitcoin more valuable than any company in 2025?

Will MicroStrategy hold 620k+ BTC before August?

•

Sources

theblock.co(2)cnbc.com theminermag.com coinmarketcap.com

CoinDesk

@CoinDesk

NEW: 🔥 Fundstrat’s Tom Lee is joining BitMine ($BMNR) as chairman. The company plans to raise $250M and become the "MicroStrategy" of Ethereum, amassing one of the largest public ETH treasuries.

TylerD 🧙‍♂️

@Tyler_Did_It

Bitmine (BMNR) stock up 220% on the news that Tom Lee has become Chairman of the Board And looking to turn it into the MicroStrategy of ETH, starting with $250M to build an ETH Treasury