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Bit Digital Exits Bitcoin Mining, Converts 417 BTC to ETH, Raises $150M; BitMine Raises $250M, Appoints Tom Lee Chairman

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Bit Digital Exits Bitcoin Mining, Converts 417 BTC to ETH, Raises $150M; BitMine Raises $250M, Appoints Tom Lee Chairman

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  • CoinMarketCap
  • Bitcoin.com News
  • Cointelegraph

22 posts • GPT (4.1 mini)

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Bit Digital, a Nasdaq-listed cryptocurrency company, has announced a strategic shift 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 417.6 Bitcoin, valued at around $34.5 million, into Ethereum. As of the end of March 2025, Bit Digital held about 24,434 Ethereum, valued at approximately $44.6 million. To accelerate this transition, Bit Digital recently raised $150 million through a public offering aimed at purchasing additional Ethereum for its treasury.
Separately, BitMine Immersion Technologies, another publicly traded Bitcoin mining firm, has appointed Wall Street strategist Tom Lee as chairman of its board. BitMine announced a $250 million private placement by selling 55.56 million common shares at $4.50 each to fund an Ethereum-focused treasury strategy. The capital raised will support the launch of BitMine's Ethereum staking and treasury asset management initiative, positioning the company to build a significant Ethereum reserve. These moves reflect a broader industry trend of shifting focus from Bitcoin mining to Ethereum staking and treasury management among publicly listed crypto firms.

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#Bit Digital#Nasdaq#Ethereum#Bitcoin#BitMine Immersion Technologies#Wall Street#Tom Lee#BitMine

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    Coin Bureau
    Coin BureauTwitter verified badge
    @coinbureau

    ⚡️JUST IN: TOM LEE WANTS TO BUILD ETHEREUM’S "MICROSTRATEGY" Wall Street Strategist Lee is now Chairman of BitMine, a tiny BTC miner aiming to become the largest public #ETH holder! 🚀 A $250M raise will fund its Ether-first treasury —echoing Saylor’s BTC strategy. 🟠

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    amit
    amitTwitter verified badge
    @amitisinvesting

    BREAKING: Tom Lee has been appointed chairman on the board of directors for Bitmine, a Bitcoin miner. Today they announced a $250M private placement to implement buying Ethereum for their $ETH treasury. $BMNR, the public stock for Bitmine, is up 48% in the pre-markets. Tom

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    Ash Crypto
    Ash CryptoTwitter verified badge
    @Ashcryptoreal

    BREAKING: PUBLICLY-LISTED BITMINE IMMERSION TECHNOLOGIES TO RAISE $250 MILLION FOR BUYING ETH. THIS IS MASSIVE 🚀

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Story Timeline

  • •Latest version
    BitMine Raises $250 Million, Installs Tom Lee to Build Ethereum Treasury
  • BitMine Raises $250 Million, Taps Tom Lee to Build Ethereum Treasury
  • Bit Digital Exits Bitcoin Mining with 417 BTC, 24,434 ETH; BitMine Raises $250M, Tom Lee Named Chairman
  • Nasdaq-Listed Bit Digital Raises $150M, Exits Bitcoin Mining for Ethereum Staking as BitMine Raises $250M with Tom Lee as Chairman
  • Bit Digital Exits Bitcoin Mining, Converts 417 BTC to ETH, Raises $150M; BitMine Raises $250M, Appoints Tom Lee Chairman
  • Nasdaq-Listed Bit Digital Raises $150 Million, Exits Bitcoin Mining to Focus on Ethereum Staking and Treasury
  • •Original version
    Nasdaq-Listed Bit Digital Exits Bitcoin Mining, Converts 417 BTC to 24,434 ETH for Staking and Treasury

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