BitMine Trading Halted Twice as Ethereum Treasury Firm Soars
2025-07-03 19:22:11
Main Idea
BitMine Immersion Technologies shares experienced significant volatility and trading halts amid announcements of a new Ethereum treasury strategy and a $250 million private placement involving prominent investors.
Key Points
1. BitMine shares were halted twice on Thursday, closing at $135 (a 130% increase) but dropping to $118 in after-hours trading.
2. The stock surged nearly 1,900% from $6 on Monday after announcing Fundstrat founder Tom Lee as board chair.
3. BitMine raised $250 million in a private placement with participation from Peter Thiel’s Founders Fund, Pantera, FalconX, and Digital Currency Group.
4. Ethereum treasury firm SharpLink Gaming’s shares plunged 70% after a regulatory filing, while Solana treasury firm Upexi’s stock also declined.
5. Tom Lee suggested that major banks like JP Morgan and Goldman Sachs may issue dollar-pegged stablecoins if regulatory frameworks pass.
Description
Investors who participated in BitMine’s private placement paid $4.50 per share, but they can’t sell their shares yet.
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