PANews reported on September 22nd that, according to PR Newswire, BitMine, the Ethereum treasury company, announced that it has entered into a securities subscription agreement with an institutional investor for the sale of approximately 5.22 million shares at $70 per share and approximately 10.4 million warrants with an exercise price of $87.50 in a registered direct offering. The company expects to raise approximately $365.24 million in gross proceeds from the offering, before deducting placement agent fees and other estimated offering expenses. If all warrants are exercised in cash, the potential total proceeds would be approximately $913 million. Combining the proceeds from the common stock offering and the cash proceeds from the warrants, the total proceeds would be approximately $1.28 billion. The company expects the offering to close on or about September 23, 2025, subject to customary closing conditions.

Earlier news, BitMine disclosed that it currently holds more than 2% of the ETH token supply, with total assets of US$11.4 billion.