Bitmine Immersion Technologies said it agreed to make a $200 million equity investment in Beast Industries, according to a PRNewswire release.
Chairman Thomas “Tom” Lee framed the deal as a strategic alignment with Beast Industries, founded and led by creator Jimmy Donaldson, better known as MrBeast, citing its reach with Gen Z, Gen Alpha and millennials. Beast Industries CEO Jeff Housenbold said the capital supports the company’s growth trajectory and that both sides intend to explore collaboration, including incorporating DeFi into an upcoming financial services platform.
The transaction is expected to close on or about Jan. 19. Bitmine also said it will hold its annual stockholder meeting on Jan. 15 at Wynn Las Vegas with a livestream on its X account; the immediate watch item is whether the investment closes on schedule and what additional product detail follows.
Source: BitMine Immersion Technologies, Inc.
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