PANews reported on July 17 that BitMine Immersion (NYSE AMERICAN: BMNR) announced today that the value of its Ethereum and Ethereum equivalents has exceeded $1 billion. In order to advance its asset-light treasury strategy, the company completed its first round of private placement financing of $250 million on July 8. According to Bloomberg data, as of 3:45 a.m. Eastern Time on July 17, the company held a total of 300,657 Ethereum1, with a price of $3,461.89 per coin.