BitMine Co-Founder Tom Lee To Raise $20B, Aiming To Be Ethereum’s Michael Saylor With Largest-Ever ETH Bet
Tom Lee’s BitMine is seeking to raise $20 billion through an expanded stock offering to buy Ethereum, aiming to become ETH’s Michael Saylor with the largest corporate acquisition of the asset to date. According to a filing on Tuesday, BitMine has expanded its at-the-market (ATM) stock offering, which allows it to sell shares gradually at prevailing market prices, from about $4.9 billion to $24.5 billion, a fivefold increase, with all proceeds expected to go toward ETH purchases. BitMine stock surged almost 6% on the news yesterday and has climbed a further 4.9% in premarket trading to reach $65.29 as of 8:09 a.m. est. Tom Lee is raising $20B to buy more Ethereum oh my goodness$BMNR $ETH pic.twitter.com/7g3W5a8N7C — amit (@amitisinvesting) August 12, 2025 This comes as Ether climbed above the $4,600 level, its highest since December 2021, as it closed on its previous high of $4,891 that it set in Nov. 2021. ETH has surged 9.7% in the past 24 hours to trad...