BitMine Announces Massive $24.5B Stock Sale as Ethereum Approaches Record High

The scramble to acquire Ethereum is intensifying, with BitMine Immersion Technologies taking center stage. The company has announced plans to raise up to $24.5 billion through a stock offering, aiming to use the funds to buy more ETH as its price nears record highs. This move was disclosed in a supplemental prospectus filed with the U.S. Securities and Exchange Commission (SEC). BitMine, itself one of the largest corporate holders of Ethereum, will execute this at-the-market (ATM) offering, selling shares incrementally at prevailing market prices.