Mining company BitMine launches Bitcoin reserve strategy, raising 18 million USD to purchase 100 BTC.

On June 9, the crypto mining company BitMine Immersion Technologies announced that it has purchased 100 Bitcoins on the open market using funds raised from its recent stock issuance, officially starting its Bitcoin reserve strategy. The company stated that it will continue to increase its Bitcoin holdings in the future as a long-term investment and a core business pillar.

As previously reported, on June 5, Bitcoin mining company BitMine Immersion Technologies, Inc. (NYSE: BMNR) announced the completion of an $18 million public offering, issuing 2.25 million shares of common stock at a price of $8 per share, and has been approved for listing on the NYSE American. The company plans to use the net proceeds to buy Bitcoin.

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